Hanesbrands (NYSE:HBI) Issues Earnings Results, Misses Expectations By $0.01 EPS

Hanesbrands (NYSE:HBI) posted its quarterly earnings results on Thursday. The textile maker reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01), Zacks reports. The firm had revenue of $891.68 million for the quarter, compared to analyst estimates of $905.37 million. Hanesbrands had a return on equity of 129.43% and a net margin of 9.34%.The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share.

Hanesbrands Stock Performance

Hanesbrands stock traded up $0.04 during trading on Friday, hitting $6.39. The stock had a trading volume of 3,900,545 shares, compared to its average volume of 6,262,908. Hanesbrands has a 1 year low of $3.96 and a 1 year high of $9.10. The company has a quick ratio of 0.74, a current ratio of 1.51 and a debt-to-equity ratio of 4.94. The stock’s 50 day moving average is $6.60 and its two-hundred day moving average is $5.54. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 6.94 and a beta of 1.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of Hanesbrands in the first quarter worth $38,000. Corient Private Wealth LLC grew its position in Hanesbrands by 42.5% in the second quarter. Corient Private Wealth LLC now owns 16,618 shares of the textile maker’s stock worth $76,000 after acquiring an additional 4,954 shares in the last quarter. FORA Capital LLC bought a new position in shares of Hanesbrands during the 2nd quarter valued at about $82,000. IHT Wealth Management LLC grew its position in Hanesbrands by 23.0% during the second quarter. IHT Wealth Management LLC now owns 18,665 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 3,490 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Hanesbrands by 21.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 19,328 shares of the textile maker’s stock valued at $89,000 after purchasing an additional 3,380 shares during the last quarter. 80.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

HBI has been the subject of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Hanesbrands in a report on Wednesday, October 8th. UBS Group boosted their price target on shares of Hanesbrands from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Wells Fargo & Company raised shares of Hanesbrands from a “strong sell” rating to an “equal weight” rating and raised their price objective for the company from $5.00 to $6.00 in a research note on Thursday, August 14th. Citigroup lifted their price objective on shares of Hanesbrands from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen upgraded shares of Hanesbrands from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.60.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.