Hanesbrands (NYSE:HBI) Announces Earnings Results

Hanesbrands (NYSE:HBI) posted its quarterly earnings results on Thursday. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04, Briefing.com reports. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. During the same quarter in the prior year, the company earned $0.10 EPS. The business’s revenue was down 2.5% compared to the same quarter last year.

Hanesbrands Stock Performance

NYSE:HBI traded down $0.38 during midday trading on Friday, hitting $8.00. The company’s stock had a trading volume of 9,632,713 shares, compared to its average volume of 7,828,001. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. Hanesbrands has a fifty-two week low of $3.58 and a fifty-two week high of $8.70. The firm’s 50 day moving average is $6.98 and its 200-day moving average is $5.84. The firm has a market cap of $2.81 billion, a P/E ratio of -9.38 and a beta of 1.58.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HBI. Barclays lifted their price target on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Stifel Nicolaus raised their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, UBS Group increased their price target on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average 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.