Hanesbrands (HBI) Issues FY 2019 Earnings Guidance

Hanesbrands (NYSE:HBI) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.72-1.80 for the period, compared to the Thomson Reuters consensus estimate of $1.76. The company issued revenue guidance of $6.885-6.985 billion, compared to the consensus revenue estimate of $6.91 billion.Hanesbrands also updated its FY19 guidance to $1.72-$1.80 EPS.

HBI stock traded down $0.11 during trading on Friday, reaching $15.78. 3,938,900 shares of the company traded hands, compared to its average volume of 5,582,797. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.66 and a quick ratio of 0.64. The company has a market cap of $5.75 billion, a P/E ratio of 9.23, a PEG ratio of 3.20 and a beta of 0.93. Hanesbrands has a 12 month low of $11.57 and a 12 month high of $22.57.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, May 2nd. The textile maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. Hanesbrands had a return on equity of 69.68% and a net margin of 7.99%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts anticipate that Hanesbrands will post 1.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Monday, May 13th. Hanesbrands’s dividend payout ratio is currently 35.09%.

Several brokerages recently weighed in on HBI. Zacks Investment Research cut Hanesbrands from a hold rating to a sell rating in a research report on Thursday, April 25th. ValuEngine upgraded Hanesbrands from a strong sell rating to a sell rating in a research report on Friday, February 8th. Finally, Barclays set a $19.00 price objective on Hanesbrands and gave the company a hold rating in a research report on Saturday, February 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Hanesbrands presently has a consensus rating of Hold and an average price target of $18.83.

In related news, CFO Barry Hytinen acquired 10,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $17.56 per share, with a total value of $175,600.00. Following the completion of the purchase, the chief financial officer now owns 176,312 shares of the company’s stock, valued at approximately $3,096,038.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.04% of the company’s stock.

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About Hanesbrands

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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