Hanesbrands (NYSE:HBI) Updates Q4 Earnings Guidance

Hanesbrands (NYSE:HBI) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.14 for the period, compared to the consensus earnings per share estimate of $0.12. The company issued revenue guidance of approx $900 million, compared to the consensus revenue estimate of $890.69 million. Hanesbrands also updated its FY 2024 guidance to 0.390-0.390 EPS.

Hanesbrands Trading Down 1.5 %

Shares of NYSE HBI opened at $7.10 on Thursday. The company has a debt-to-equity ratio of 50.06, a quick ratio of 0.86 and a current ratio of 1.46. The business’s 50 day moving average price is $6.94 and its 200-day moving average price is $5.82. Hanesbrands has a fifty-two week low of $3.58 and a fifty-two week high of $7.58. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -8.35 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The firm had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Hanesbrands will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

HBI has been the topic of several research reports. UBS Group raised their price objective on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Stifel Nicolaus raised their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, Barclays raised their price objective on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.80.

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.