Hanesbrands (NYSE:HBI) Updates FY 2024 Earnings Guidance

Hanesbrands (NYSE:HBI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.390-0.390 for the period, compared to the consensus EPS estimate of 0.340. The company issued revenue guidance of $3.6 billion-$3.6 billion, compared to the consensus revenue estimate of $3.6 billion. Hanesbrands also updated its Q4 guidance to $0.14 EPS.

Hanesbrands Price Performance

HBI stock traded up $1.43 during trading on Thursday, hitting $8.53. The stock had a trading volume of 2,931,053 shares, compared to its average volume of 7,737,967. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. The company’s 50-day moving average price is $6.94 and its two-hundred day moving average price is $5.82. The stock has a market capitalization of $3.00 billion, a P/E ratio of -9.64 and a beta of 1.58. Hanesbrands has a twelve month low of $3.58 and a twelve month high of $8.70.

Hanesbrands (NYSE:HBI) last posted 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 negative net margin of 6.02% and a positive return on equity of 33.23%. The firm had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted ($0.01) earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, research analysts predict that Hanesbrands will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group boosted their target price on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Barclays raised their target price on Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus upped their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently 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.