Hibbett (NASDAQ:HIBB) Posts Quarterly Earnings Results, Misses Estimates By $0.56 EPS

Hibbett (NASDAQ:HIBBGet Rating) posted its quarterly earnings data on Friday. The company reported $2.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.56), MarketWatch Earnings reports. The company had revenue of $424.10 million during the quarter, compared to the consensus estimate of $424.20 million. Hibbett had a net margin of 10.31% and a return on equity of 48.53%. The company’s revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the business earned $5.00 earnings per share. Hibbett updated its FY 2023 guidance to $9.75-$10.50 EPS and its FY23 guidance to $9.75-10.50 EPS.

Hibbett stock opened at $52.50 on Friday. The firm has a market cap of $689.80 million, a PE ratio of 4.87, a P/E/G ratio of 1.12 and a beta of 1.89. The firm’s 50 day moving average price is $45.04 and its two-hundred day moving average price is $58.23. Hibbett has a twelve month low of $39.58 and a twelve month high of $101.65.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 29th. Shareholders of record on Thursday, March 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 16th. This represents a $1.00 annualized dividend and a yield of 1.90%. Hibbett’s dividend payout ratio is presently 9.27%.

HIBB has been the subject of several recent research reports. Benchmark cut their target price on shares of Hibbett from $125.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 7th. Monness Crespi & Hardt cut their target price on shares of Hibbett from $120.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, February 22nd. TheStreet lowered shares of Hibbett from a “b-” rating to a “c+” rating in a research note on Tuesday, May 10th. Robert W. Baird cut their target price on shares of Hibbett from $75.00 to $70.00 in a research note on Friday. Finally, StockNews.com initiated coverage on shares of Hibbett in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $75.67.

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Hibbett during the 1st quarter worth $50,000. Captrust Financial Advisors increased its stake in shares of Hibbett by 67.9% during the 1st quarter. Captrust Financial Advisors now owns 1,691 shares of the company’s stock worth $75,000 after purchasing an additional 684 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in Hibbett by 47.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,689 shares of the company’s stock valued at $75,000 after buying an additional 543 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in Hibbett in the 1st quarter valued at $238,000. Finally, Baird Financial Group Inc. grew its stake in Hibbett by 15.0% in the 1st quarter. Baird Financial Group Inc. now owns 6,323 shares of the company’s stock valued at $280,000 after buying an additional 827 shares during the last quarter. Institutional investors own 91.79% of the company’s stock.

Hibbett Company Profile (Get Rating)

Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in small and mid-sized communities in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories.

Further Reading

Earnings History for Hibbett (NASDAQ:HIBB)

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