Hanesbrands Inc. (NYSE:HBI) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Tuesday, August 11th will be given a dividend of 0.15 per share by the textile maker on Tuesday, September 1st. This represents a $0.60 annualized dividend and a yield of 4.13%. The ex-dividend date is Monday, August 10th.
Hanesbrands has raised its dividend payment by an average of 36.4% per year over the last three years. Hanesbrands has a payout ratio of 87.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Hanesbrands to earn $1.52 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 39.5%.
Hanesbrands stock traded down $0.11 during midday trading on Thursday, reaching $14.53. 170,216 shares of the company were exchanged, compared to its average volume of 7,889,643. The firm’s 50-day simple moving average is $12.09 and its 200-day simple moving average is $11.44. Hanesbrands has a 1 year low of $6.96 and a 1 year high of $16.40. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 4.71 and a beta of 1.54. The company has a debt-to-equity ratio of 5.26, a quick ratio of 1.11 and a current ratio of 2.21.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, April 30th. The textile maker reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Hanesbrands had a return on equity of 50.63% and a net margin of 7.75%. Hanesbrands’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 earnings per share. On average, analysts forecast that Hanesbrands will post 0.91 EPS for the current fiscal year.
A number of analysts recently issued reports on HBI shares. Bank of America upgraded shares of Hanesbrands from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $8.50 to $14.00 in a research report on Wednesday, July 15th. Wells Fargo & Co upgraded Hanesbrands from a “neutral” rating to an “outperform” rating in a report on Tuesday, July 14th. Cfra reduced their target price on Hanesbrands from $12.00 to $8.00 and set a “sell” rating on the stock in a research report on Thursday, April 30th. Raymond James raised Hanesbrands from a “market perform” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, July 15th. Finally, B. Riley upped their price objective on shares of Hanesbrands from $14.00 to $16.00 in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $13.58.
Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.
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