Hanesbrands Inc. (NYSE:HBI) to Post Q4 2018 Earnings of $0.51 Per Share, B. Riley Forecasts

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Hanesbrands Inc. (NYSE:HBI) – Investment analysts at B. Riley increased their Q4 2018 EPS estimates for shares of Hanesbrands in a research report issued to clients and investors on Thursday, August 2nd, Zacks Investment Research reports. B. Riley analyst S. Anderson now anticipates that the textile maker will post earnings per share of $0.51 for the quarter, up from their previous estimate of $0.49. B. Riley currently has a “Buy” rating and a $30.00 price target on the stock.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Wednesday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). Hanesbrands had a return on equity of 78.67% and a net margin of 0.58%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm posted $0.53 EPS. Hanesbrands’s revenue for the quarter was up 4.2% on a year-over-year basis.

HBI has been the subject of several other research reports. Barclays cut Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective for the company. in a research report on Thursday, August 2nd. ValuEngine lowered Hanesbrands from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Bank of America lowered their price target on Hanesbrands from $24.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, August 2nd. Citigroup lowered their price target on Hanesbrands from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.07.

NYSE HBI opened at $18.19 on Monday. Hanesbrands has a twelve month low of $16.38 and a twelve month high of $25.73. The company has a quick ratio of 0.84, a current ratio of 2.02 and a debt-to-equity ratio of 5.41. The stock has a market cap of $6.71 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.05 and a beta of 0.54.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.30%. Hanesbrands’s dividend payout ratio is currently 31.09%.

In related news, CEO Gerald Evans acquired 17,500 shares of the stock in a transaction dated Wednesday, May 16th. The shares were bought at an average cost of $17.66 per share, for a total transaction of $309,050.00. Following the purchase, the chief executive officer now owns 1,198,206 shares in the company, valued at approximately $21,160,317.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David V. Singer acquired 31,230 shares of the stock in a transaction dated Thursday, May 17th. The stock was bought at an average price of $17.72 per share, for a total transaction of $553,395.60. Following the completion of the purchase, the director now owns 26,880 shares in the company, valued at approximately $476,313.60. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 70,620 shares of company stock worth $1,244,864. Corporate insiders own 1.06% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in HBI. Diamond Hill Capital Management Inc. grew its stake in shares of Hanesbrands by 1.5% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 10,216,744 shares of the textile maker’s stock valued at $188,192,000 after purchasing an additional 152,654 shares during the period. NuWave Investment Management LLC bought a new stake in Hanesbrands during the 1st quarter worth approximately $274,000. Dynamic Advisor Solutions LLC grew its position in Hanesbrands by 391.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 100,449 shares of the textile maker’s stock worth $1,851,000 after acquiring an additional 80,016 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Hanesbrands by 52.4% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 36,034 shares of the textile maker’s stock worth $664,000 after acquiring an additional 12,393 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in Hanesbrands during the 1st quarter worth approximately $1,842,000. Institutional investors own 98.50% of the company’s stock.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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