Wedbush Weighs in on Hanesbrands Inc.’s Q2 2024 Earnings (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBIFree Report) – Equities research analysts at Wedbush lowered their Q2 2024 earnings per share (EPS) estimates for shares of Hanesbrands in a research note issued to investors on Thursday, May 9th. Wedbush analyst T. Nikic now anticipates that the textile maker will post earnings per share of $0.09 for the quarter, down from their prior forecast of $0.11. Wedbush has a “Neutral” rating and a $5.00 price objective on the stock. The consensus estimate for Hanesbrands’ current full-year earnings is $0.44 per share. Wedbush also issued estimates for Hanesbrands’ Q3 2024 earnings at $0.25 EPS and Q4 2024 earnings at $0.13 EPS.

A number of other analysts also recently issued reports on HBI. Barclays lifted their price target on Hanesbrands from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Friday. Citigroup boosted their target price on Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.00.

Check Out Our Latest Analysis on Hanesbrands

Hanesbrands Stock Performance

Shares of HBI stock opened at $4.93 on Monday. The company has a market cap of $1.73 billion, a P/E ratio of -82.17 and a beta of 1.62. The firm has a fifty day moving average price of $5.05 and a 200 day moving average price of $4.55. The company has a current ratio of 1.59, a quick ratio of 0.62 and a debt-to-equity ratio of 9.57. Hanesbrands has a 12 month low of $3.54 and a 12 month high of $5.86.

Hanesbrands (NYSE:HBIGet Free Report) last issued its earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue was down 16.8% compared to the same quarter last year.

Hedge Funds Weigh In On Hanesbrands

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in shares of Hanesbrands by 2.4% in the third quarter. Commonwealth Equity Services LLC now owns 447,266 shares of the textile maker’s stock valued at $1,771,000 after buying an additional 10,272 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Hanesbrands by 5.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 141,844 shares of the textile maker’s stock worth $562,000 after purchasing an additional 7,177 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Hanesbrands by 7.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 310,709 shares of the textile maker’s stock valued at $1,230,000 after buying an additional 21,101 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Hanesbrands by 3.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 261,487 shares of the textile maker’s stock valued at $1,035,000 after buying an additional 8,174 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Hanesbrands during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Company Profile

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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.

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Earnings History and Estimates for Hanesbrands (NYSE:HBI)

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