Hanesbrands Inc. (NYSE:HBI) Issues Earnings Results

Hanesbrands Inc. (NYSE:HBI) announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.53, Bloomberg Earnings reports. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Hanesbrands updated its Q3 guidance to $0.59-0.61 EPS.

Shares of Hanesbrands (NYSE HBI) traded down 1.47% during mid-day trading on Friday, hitting $23.53. The stock had a trading volume of 3,650,001 shares. Hanesbrands has a one year low of $18.91 and a one year high of $28.24. The firm has a 50 day moving average of $23.44 and a 200-day moving average of $21.73. The stock has a market cap of $8.58 billion, a P/E ratio of 15.42 and a beta of 0.73.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.55%. Hanesbrands’s dividend payout ratio (DPR) is 39.47%.

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HBI has been the subject of a number of recent research reports. BidaskClub downgraded Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Credit Suisse Group set a $28.00 price objective on Hanesbrands and gave the company a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded Hanesbrands from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. ValuEngine upgraded Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Buckingham Research reiterated a “buy” rating and set a $30.00 price objective on shares of Hanesbrands in a research note on Monday, July 17th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $27.57.

In related news, insider W Howard Upchurch, Jr. sold 55,850 shares of Hanesbrands stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the transaction, the insider now owns 579,663 shares in the company, valued at $13,274,282.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gerald Evans sold 43,379 shares of Hanesbrands stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $23.18, for a total value of $1,005,525.22. Following the transaction, the chief executive officer now owns 1,056,314 shares in the company, valued at approximately $24,485,358.52. The disclosure for this sale can be found here. Insiders sold 130,329 shares of company stock worth $3,016,617 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in HBI. Lazard Asset Management LLC increased its position in shares of Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock worth $103,000 after buying an additional 1,000 shares during the last quarter. QS Investors LLC increased its position in shares of Hanesbrands by 2.8% in the second quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock worth $118,000 after buying an additional 140 shares during the last quarter. Carroll Financial Associates Inc. increased its position in shares of Hanesbrands by 24.4% in the first quarter. Carroll Financial Associates Inc. now owns 5,997 shares of the textile maker’s stock worth $124,000 after buying an additional 1,177 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock worth $124,000 after buying an additional 415 shares during the last quarter. Finally, Washington Trust Bank increased its position in shares of Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock worth $139,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

Hanesbrands Company Profile

Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.

Earnings History for Hanesbrands (NYSE:HBI)

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