Hanesbrands Inc. (HBI) Updates Q4 Earnings Guidance
Hanesbrands Inc. (NYSE:HBI) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.51-$0.53 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.56. The company issued revenue guidance of $1.625-$1.650 billion, compared to the consensus revenue estimate of $1.63 billion.
Hanesbrands (NYSE:HBI) last issued its earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business earned $0.56 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, November 13th. Hanesbrands’s payout ratio is 39.47%.
HBI has been the topic of several recent research reports. BidaskClub cut shares of Hanesbrands from a buy rating to a hold rating in a report on Tuesday, August 1st. Nomura dropped their target price on shares of Hanesbrands from $24.00 to $21.00 and set a neutral rating on the stock in a report on Thursday. Cowen and Company set a $22.00 target price on shares of Hanesbrands and gave the stock a hold rating in a report on Thursday, August 24th. Oppenheimer Holdings, Inc. reissued a buy rating on shares of Hanesbrands in a research report on Wednesday, October 18th. Finally, ValuEngine raised shares of Hanesbrands from a hold rating to a buy rating in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $26.13.
In other news, insider John T. Marsh sold 10,325 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $24.27, for a total transaction of $250,587.75. Following the sale, the insider now owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard D. Moss sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $24.08, for a total transaction of $481,600.00. Following the sale, the chief financial officer now directly owns 254,487 shares in the company, valued at approximately $6,128,046.96. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
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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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