Hanesbrands (HBI) Announces Earnings Results

Hanesbrands (NYSE:HBI) posted its earnings results on Thursday. The textile maker reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55, MarketWatch Earnings reports. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.87 billion. Hanesbrands had a return on equity of 78.67% and a net margin of 0.58%. Hanesbrands’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share.

Shares of HBI traded down $1.01 during midday trading on Thursday, hitting $16.15. 671,659 shares of the company’s stock traded hands, compared to its average volume of 5,243,270. Hanesbrands has a 1 year low of $16.08 and a 1 year high of $23.33. The company has a current ratio of 2.02, a quick ratio of 0.84 and a debt-to-equity ratio of 5.41. The firm has a market cap of $6.34 billion, a PE ratio of 8.30, a P/E/G ratio of 1.00 and a beta of 0.37.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.60 annualized dividend and a dividend yield of 3.72%. Hanesbrands’s dividend payout ratio is presently 31.09%.

A number of research firms have weighed in on HBI. Credit Suisse Group lowered their target price on Hanesbrands from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 2nd. Buckingham Research lowered their target price on Hanesbrands from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Barclays lowered Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 target price for the company. in a report on Thursday, August 2nd. ValuEngine lowered Hanesbrands from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Finally, Bank of America lowered their target price on Hanesbrands from $24.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Hanesbrands has an average rating of “Hold” and an average price target of $22.38.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Hanesbrands by 4.5% during the 2nd quarter. BlackRock Inc. now owns 23,662,833 shares of the textile maker’s stock valued at $521,053,000 after purchasing an additional 1,028,890 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hanesbrands by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 20,855,642 shares of the textile maker’s stock valued at $459,242,000 after purchasing an additional 290,491 shares during the last quarter. Parnassus Investments CA lifted its holdings in shares of Hanesbrands by 11.5% during the 2nd quarter. Parnassus Investments CA now owns 16,280,808 shares of the textile maker’s stock valued at $358,503,000 after purchasing an additional 1,680,808 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Hanesbrands by 688.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 4,381,283 shares of the textile maker’s stock valued at $96,476,000 after purchasing an additional 3,825,344 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Hanesbrands by 13.3% during the 2nd quarter. Morgan Stanley now owns 3,095,675 shares of the textile maker’s stock valued at $68,166,000 after purchasing an additional 362,960 shares during the last quarter. Hedge funds and other institutional investors own 99.58% of the company’s stock.

Hanesbrands Company Profile

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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Earnings History for Hanesbrands (NYSE:HBI)

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