Hanesbrands (NYSE:HBI) Issues FY24 Earnings Guidance

Hanesbrands (NYSE:HBI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.31-$0.37 for the period, compared to the consensus estimate of $0.45. The company issued revenue guidance of $3.59-$3.63 billion, compared to the consensus revenue estimate of $5.31 billion. Hanesbrands also updated its FY 2024 guidance to 0.310-0.370 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HBI. Barclays raised their target price on shares of Hanesbrands from $4.00 to $5.00 and gave the company an equal weight rating in a research note on Friday, May 10th. Wedbush reiterated a neutral rating and set a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $5.00.

Hanesbrands Stock Performance

HBI traded down $0.05 on Friday, reaching $6.09. The company had a trading volume of 11,081,915 shares, compared to its average volume of 8,497,189. The stock has a market cap of $2.14 billion, a P/E ratio of -101.50 and a beta of 1.59. The company has a debt-to-equity ratio of 9.57, a quick ratio of 0.62 and a current ratio of 1.59. Hanesbrands has a fifty-two week low of $3.54 and a fifty-two week high of $6.18. The company’s fifty day moving average is $5.22 and its 200 day moving average is $5.03.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. As a group, analysts predict that Hanesbrands will post 0.46 earnings per share for the current fiscal year.

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.