Hanesbrands (NYSE:HBI) Issues Quarterly Earnings Results

Hanesbrands (NYSE:HBI) announced its quarterly earnings results on Thursday. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $936.47 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis.

Hanesbrands Trading Down 5.8 %

Shares of NYSE HBI traded down $0.49 during midday trading on Friday, hitting $7.89. The company’s stock had a trading volume of 6,533,904 shares, compared to its average volume of 7,813,721. Hanesbrands has a 12-month low of $3.58 and a 12-month high of $8.70. The firm has a market cap of $2.77 billion, a P/E ratio of -9.38 and a beta of 1.58. The business’s 50 day moving average is $6.98 and its two-hundred day moving average is $5.84. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 50.06.

Analysts Set New Price Targets

A number of brokerages have issued reports on HBI. Barclays upped their price objective on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. UBS Group lifted their price objective on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus boosted their price target on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.80.

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.