Brokerages Anticipate Hanesbrands Inc. (HBI) Will Announce Quarterly Sales of $1.88 Billion

Equities analysts forecast that Hanesbrands Inc. (NYSE:HBI) will report $1.88 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Hanesbrands’ earnings, with the lowest sales estimate coming in at $1.87 billion and the highest estimate coming in at $1.89 billion. Hanesbrands reported sales of $1.80 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.4%. The firm is expected to report its next earnings results on Wednesday, November 7th.

On average, analysts expect that Hanesbrands will report full year sales of $6.77 billion for the current year, with estimates ranging from $6.75 billion to $6.78 billion. For the next financial year, analysts expect that the company will post sales of $6.84 billion, with estimates ranging from $6.78 billion to $6.92 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Hanesbrands.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Wednesday, August 1st. The textile maker reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Hanesbrands had a net margin of 0.58% and a return on equity of 78.67%. Hanesbrands’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share.

Several equities research analysts have issued reports on HBI shares. Buckingham Research lowered their price objective on shares of Hanesbrands from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday. Zacks Investment Research raised shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, July 24th. Barclays cut shares of Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective for the company. in a research report on Thursday, August 2nd. Macquarie lowered their price objective on shares of Hanesbrands from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, August 23rd. Finally, Bank of America lowered their price objective on shares of Hanesbrands from $24.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Hanesbrands has an average rating of “Hold” and an average price target of $22.75.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Hanesbrands in the 2nd quarter worth approximately $250,000. WP Advisors LLC purchased a new stake in shares of Hanesbrands in the 2nd quarter worth approximately $145,000. Amica Retiree Medical Trust lifted its position in Hanesbrands by 180.3% during the second quarter. Amica Retiree Medical Trust now owns 7,296 shares of the textile maker’s stock valued at $161,000 after acquiring an additional 4,693 shares during the last quarter. Advisory Services Network LLC lifted its position in Hanesbrands by 124.7% during the second quarter. Advisory Services Network LLC now owns 8,503 shares of the textile maker’s stock valued at $187,000 after acquiring an additional 4,719 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new stake in Hanesbrands during the second quarter valued at approximately $200,000. 99.58% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands stock opened at $16.88 on Thursday. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 8.76, a P/E/G ratio of 1.05 and a beta of 0.37. The company has a debt-to-equity ratio of 5.41, a current ratio of 2.02 and a quick ratio of 0.84. Hanesbrands has a 1 year low of $16.11 and a 1 year high of $24.12.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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