Hanesbrands (NYSE:HBI) Announces Quarterly Earnings Results

Hanesbrands (NYSE:HBI) posted its quarterly earnings data 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. The company had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS.

Hanesbrands Trading Down 4.5 %

Shares of Hanesbrands stock traded down $0.38 during trading on Friday, reaching $8.00. 9,632,713 shares of the company were exchanged, compared to its average volume of 7,828,001. Hanesbrands has a twelve month low of $3.58 and a twelve month high of $8.70. The business has a 50-day moving average price of $6.98 and a 200-day moving average price of $5.84. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -9.38 and a beta of 1.58.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HBI. Stifel Nicolaus raised their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. UBS Group increased their target price on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Finally, 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. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.