Hanesbrands Inc. (NYSE:HBI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.59-0.61 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.60. The company issued revenue guidance of $1.8 billion, compared to the consensus revenue estimate of $1.80 billion.
Shares of Hanesbrands Inc. (NYSE:HBI) traded down 1.47% during trading on Friday, hitting $23.53. The stock had a trading volume of 3,650,001 shares. Hanesbrands Inc. has a one year low of $18.91 and a one year high of $28.24. The stock’s 50 day moving average price is $23.44 and its 200-day moving average price is $21.73. The stock has a market cap of $8.58 billion, a P/E ratio of 15.42 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Analysts expect that Hanesbrands Inc. will post $1.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.55%. Hanesbrands’s dividend payout ratio (DPR) is currently 39.47%.
A number of equities research analysts recently weighed in on the stock. UBS AG reissued a buy rating and issued a $27.00 price target (up from $25.00) on shares of Hanesbrands in a research report on Tuesday, August 8th. BidaskClub raised shares of Hanesbrands from a sell rating to a hold rating in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of Hanesbrands from a buy rating to a hold rating in a research report on Wednesday, August 9th. Vetr lowered shares of Hanesbrands from a strong-buy rating to a buy rating and set a $26.36 price objective on the stock. in a research note on Monday, August 7th. Finally, Morgan Stanley lifted their price objective on shares of Hanesbrands from $22.00 to $24.00 and gave the company an equal weight rating in a research note on Monday, August 7th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $27.57.
In related news, insider John T. Marsh sold 11,100 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total transaction of $250,527.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gerald Evans sold 43,379 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total transaction of $1,005,525.22. Following the transaction, the chief executive officer now directly owns 1,056,314 shares in the company, valued at approximately $24,485,358.52. The disclosure for this sale can be found here. Insiders sold 130,329 shares of company stock worth $3,016,617 in the last ninety days. Insiders own 1.10% of the company’s stock.
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Hanesbrands Company Profile
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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