Hanesbrands (NYSE:HBI) Updates FY 2024 Earnings Guidance

Hanesbrands (NYSE:HBI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.390-0.390 for the period, compared to the consensus EPS estimate of 0.340. The company issued revenue guidance of $3.6 billion-$3.6 billion, compared to the consensus revenue estimate of $3.6 billion. Hanesbrands also updated its Q4 guidance to $0.14 EPS.

Hanesbrands Stock Performance

NYSE:HBI traded up $1.43 during mid-day trading on Thursday, hitting $8.53. The company’s stock had a trading volume of 2,931,053 shares, compared to its average volume of 7,737,967. The business’s fifty day moving average is $6.94 and its two-hundred day moving average is $5.82. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -9.64 and a beta of 1.58. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. Hanesbrands has a 1 year low of $3.58 and a 1 year high of $8.70.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Analysts anticipate that Hanesbrands will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

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