Hanesbrands (NYSE:HBI) Issues FY24 Earnings Guidance

Hanesbrands (NYSE:HBI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $0.42-0.48 for the period, compared to the consensus EPS estimate of $0.43. The company issued revenue guidance of $5.35-5.47 billion, compared to the consensus revenue estimate of $5.32 billion. Hanesbrands also updated its Q2 guidance to $0.07-0.11 EPS.

Hanesbrands Stock Performance

Shares of Hanesbrands stock opened at $4.45 on Thursday. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65. Hanesbrands has a one year low of $3.54 and a one year high of $5.86. The business has a 50-day simple moving average of $5.09 and a 200 day simple moving average of $4.54. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -88.98 and a beta of 1.62.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned ($0.06) earnings per share. Hanesbrands’s revenue for the quarter was down 16.8% on a year-over-year basis. On average, research analysts anticipate that Hanesbrands will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wedbush upped their target price on shares of Hanesbrands from $4.50 to $5.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. Citigroup raised their price objective on Hanesbrands from $4.50 to $5.50 and gave the company a neutral rating in a research note on Wednesday, April 3rd.

Hanesbrands Company Profile

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.