Brokers Set Expectations for Hibbett, Inc.’s Q3 2024 Earnings (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB – Get Rating) – Equities research analysts at Telsey Advisory Group decreased their Q3 2024 earnings per share estimates for Hibbett in a note issued to investors on Tuesday, May 23rd. Telsey Advisory Group analyst C. Fernandez now forecasts that the company will earn $1.55 per share for the quarter, down from their previous estimate of $2.00. Telsey Advisory Group has a “Outperform” rating and a $80.00 price target on the stock. The consensus estimate for Hibbett’s current full-year earnings is $9.54 per share. Telsey Advisory Group also issued estimates for Hibbett’s Q4 2024 earnings at $3.02 EPS, FY2024 earnings at $8.75 EPS, Q1 2025 earnings at $3.40 EPS, Q2 2025 earnings at $1.66 EPS, Q3 2025 earnings at $1.79 EPS and FY2025 earnings at $10.10 EPS.

Hibbett (NASDAQ:HIBB – Get Rating) last released its quarterly earnings data on Friday, March 3rd. The company reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.05). Hibbett had a net margin of 7.50% and a return on equity of 38.15%. The business had revenue of $458.30 million during the quarter, compared to analyst estimates of $476.57 million. During the same period in the previous year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 19.6% on a year-over-year basis.

Other analysts have also recently issued reports about the company. Robert W. Baird lifted their price target on Hibbett from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, March 6th. Benchmark reissued a “buy” rating and set a $80.00 price target on shares of Hibbett in a report on Monday, March 6th. Jefferies Financial Group began coverage on Hibbett in a report on Tuesday, March 14th. They set a “hold” rating and a $69.00 price target for the company. Bank of America raised their price objective on Hibbett from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Finally, Williams Trading lowered Hibbett from a “buy” rating to a “hold” rating in a research note on Sunday, May 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hibbett presently has an average rating of “Moderate Buy” and a consensus price target of $78.80.

Hibbett Trading Down 2.6 %

NASDAQ:HIBB opened at $44.16 on Thursday. The stock has a market cap of $562.91 million, a P/E ratio of 4.60, a PEG ratio of 0.39 and a beta of 1.58. The stock has a 50 day simple moving average of $55.70 and a 200 day simple moving average of $63.28. Hibbett has a 1-year low of $42.12 and a 1-year high of $75.38.

Hibbett Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 28th. Shareholders of record on Thursday, March 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 15th. Hibbett’s payout ratio is presently 10.42%.

Insiders Place Their Bets

In other Hibbett news, Director Dorlisa K. Flur sold 714 shares of Hibbett stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $60.00, for a total transaction of $42,840.00. Following the transaction, the director now directly owns 5,598 shares of the company’s stock, valued at approximately $335,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hibbett news, Director Dorlisa K. Flur sold 714 shares of the stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $60.00, for a total value of $42,840.00. Following the transaction, the director now owns 5,598 shares in the company, valued at $335,880. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James A. Hilt sold 8,154 shares of the stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $61.18, for a total value of $498,861.72. Following the completion of the sale, the director now directly owns 2,380 shares of the company’s stock, valued at $145,608.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,473 shares of company stock valued at $943,300. 2.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hibbett

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brandywine Global Investment Management LLC boosted its holdings in shares of Hibbett by 0.6% in the first quarter. Brandywine Global Investment Management LLC now owns 38,764 shares of the company’s stock worth $2,286,000 after acquiring an additional 239 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Hibbett by 4.1% in the first quarter. Ameriprise Financial Inc. now owns 451,231 shares of the company’s stock worth $26,614,000 after buying an additional 17,702 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Hibbett by 570.2% in the first quarter. JPMorgan Chase & Co. now owns 92,561 shares of the company’s stock worth $5,459,000 after buying an additional 112,247 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Hibbett by 4.5% in the first quarter. Mercer Global Advisors Inc. ADV now owns 5,973 shares of the company’s stock worth $352,000 after purchasing an additional 257 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Hibbett by 7.0% in the first quarter. State Street Corp now owns 609,604 shares of the company’s stock worth $35,954,000 after purchasing an additional 39,930 shares during the last quarter. 97.94% of the stock is owned by institutional investors.

Hibbett Company Profile

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.