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Jul 11, 2023

Zacks Research Research Analysts Decrease Earnings Estimates for Hanesbrands Inc. (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI - Free Report) - Equities research analysts at Zacks Research reduced their FY2023 earnings per share estimates for shares of Hanesbrands in a research report issued on

Hanesbrands Inc. (NYSE:HBI - Free Report) - Equities research analysts at Zacks Research reduced their FY2023 earnings per share estimates for shares of Hanesbrands in a research report issued on Thursday, August 24th. Zacks Research analyst A. Mohta now anticipates that the textile maker will post earnings per share of $0.22 for the year, down from their prior estimate of $0.32. The consensus estimate for Hanesbrands' current full-year earnings is $0.23 per share. Zacks Research also issued estimates for Hanesbrands' Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.27 EPS, Q2 2025 earnings at $0.17 EPS and FY2025 earnings at $0.78 EPS.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its quarterly earnings data on Thursday, August 10th. The textile maker reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01. Hanesbrands had a positive return on equity of 22.89% and a negative net margin of 6.61%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The company's quarterly revenue was down 4.7% compared to the same quarter last year.

A number of other analysts have also recently issued reports on HBI. StockNews.com cut Hanesbrands from a "hold" rating to a "sell" rating in a research report on Thursday. Stifel Nicolaus reduced their price target on Hanesbrands from $7.00 to $6.00 in a research report on Thursday, May 4th. Barclays reduced their price target on Hanesbrands from $6.00 to $5.00 in a research report on Thursday, May 4th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $5.50 price target on shares of Hanesbrands in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Hanesbrands has a consensus rating of "Hold" and an average target price of $5.64.

Check Out Our Latest Report on Hanesbrands

HBI opened at $4.96 on Monday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -4.43 and a beta of 1.63. Hanesbrands has a 1 year low of $3.85 and a 1 year high of $9.61. The company has a current ratio of 1.67, a quick ratio of 0.61 and a debt-to-equity ratio of 10.07. The stock has a fifty day moving average price of $4.92 and a 200 day moving average price of $4.92.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its stake in Hanesbrands by 41.9% during the first quarter. Canada Pension Plan Investment Board now owns 5,010 shares of the textile maker's stock valued at $74,000 after acquiring an additional 1,480 shares during the period. Franklin Resources Inc. boosted its holdings in Hanesbrands by 8.0% during the second quarter. Franklin Resources Inc. now owns 21,973 shares of the textile maker's stock valued at $226,000 after purchasing an additional 1,629 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Hanesbrands by 1.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 151,278 shares of the textile maker's stock valued at $962,000 after purchasing an additional 1,930 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Hanesbrands by 0.4% during the fourth quarter. Alliancebernstein L.P. now owns 477,420 shares of the textile maker's stock valued at $3,036,000 after purchasing an additional 2,048 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Hanesbrands by 39.1% during the second quarter. Fifth Third Bancorp now owns 7,690 shares of the textile maker's stock valued at $35,000 after purchasing an additional 2,163 shares in the last quarter. 88.35% of the stock is currently owned by institutional investors.

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.

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