Hanesbrands (NYSE:HBI) Releases Q3 2024 Earnings Guidance

Hanesbrands (NYSE:HBI) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.090-0.140 for the period, compared to the consensus estimate of 0.230. The company issued revenue guidance of $920.0 million-$950.0 million, compared to the consensus revenue estimate of $1.5 billion. Hanesbrands also updated its FY 2024 guidance to 0.310-0.370 EPS.

Hanesbrands Price Performance

HBI traded down $0.05 on Friday, hitting $6.09. 11,081,915 shares of the company were exchanged, compared to its average volume of 8,497,189. The company has a debt-to-equity ratio of 9.57, a quick ratio of 0.62 and a current ratio of 1.59. The business’s fifty day moving average is $5.22 and its 200 day moving average is $5.03. Hanesbrands has a fifty-two week low of $3.54 and a fifty-two week high of $6.18. The firm has a market capitalization of $2.14 billion, a P/E ratio of -101.50 and a beta of 1.59.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $995.40 million for the quarter, compared to analyst estimates of $1.35 billion. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) earnings per share. As a group, sell-side analysts anticipate that Hanesbrands will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on HBI shares. Wedbush reiterated a neutral rating and issued a $5.00 price target on shares of Hanesbrands in a research report on Thursday, June 6th. Barclays increased their price target on shares of Hanesbrands from $4.00 to $5.00 and gave the company an equal weight rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $5.00.

Hanesbrands Company Profile

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.