Hanesbrands (NYSE:HBI) Issues FY24 Earnings Guidance

Hanesbrands (NYSE:HBI) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.31-$0.37 for the period, compared to the consensus EPS estimate of $0.45. The company issued revenue guidance of $3.59-$3.63 billion, compared to the consensus revenue estimate of $5.31 billion. Hanesbrands also updated its FY 2024 guidance to 0.310-0.370 EPS.

Analyst Ratings Changes

A number of brokerages have recently commented on HBI. Barclays boosted their price target on Hanesbrands from $4.00 to $5.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. Wedbush reissued a neutral rating and issued a $5.00 price target on shares of Hanesbrands in a research report on Thursday, June 6th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Hanesbrands has a consensus rating of Hold and a consensus price target of $5.00.

Hanesbrands Stock Down 0.8 %

HBI stock traded down $0.05 during midday trading on Friday, hitting $6.09. The company’s stock had a trading volume of 11,081,915 shares, compared to its average volume of 8,497,189. The company has a market cap of $2.14 billion, a PE ratio of -101.50 and a beta of 1.59. Hanesbrands has a 12 month low of $3.54 and a 12 month high of $6.18. The company has a current ratio of 1.59, a quick ratio of 0.62 and a debt-to-equity ratio of 9.57. The firm’s 50-day moving average is $5.22 and its 200-day moving average is $5.03.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $995.40 million for the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. On average, equities research analysts forecast that Hanesbrands will post 0.46 earnings per share for the current fiscal year.

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.