Hanesbrands (NYSE:HBI) Releases Q4 Earnings Guidance

Hanesbrands (NYSE:HBI - Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. 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 Stock Performance

Shares of HBI traded up $1.27 during trading hours on Thursday, hitting $8.37. The company had a trading volume of 18,590,760 shares, compared to its average volume of 7,810,465. Hanesbrands has a 12 month low of $3.58 and a 12 month high of $8.70. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -9.64 and a beta of 1.58. The business has a fifty day moving average of $6.94 and a 200-day moving average of $5.82. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its earnings results on Thursday, August 8th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. The company's revenue was down 3.8% on a year-over-year basis. Equities analysts anticipate that Hanesbrands will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HBI. Barclays increased their price target on Hanesbrands from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research report on Monday, August 12th. Stifel Nicolaus raised their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the company a "hold" rating in a report on Monday, August 12th. Finally, UBS Group upped their price target on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a "neutral" rating in a report on Tuesday, August 27th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Hanesbrands currently has a consensus rating of "Hold" and a consensus 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.