Hibbett Sports (HIBB) Issues Earnings Results, Beats Expectations By $0.32 EPS

Hibbett Sports (NASDAQ:HIBB) announced its quarterly earnings results on Friday. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.32, MarketWatch Earnings reports. Hibbett Sports had a net margin of 2.82% and a return on equity of 9.95%. The firm had revenue of $343.30 million for the quarter, compared to the consensus estimate of $328.16 million. During the same period in the prior year, the firm posted $1.12 earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. Hibbett Sports updated its FY 2020 guidance to $2.00-2.15 EPS and its FY20 guidance to $2.00-2.15 EPS.

NASDAQ:HIBB traded up $4.14 during trading hours on Friday, reaching $23.96. 6,829,926 shares of the company were exchanged, compared to its average volume of 664,622. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.51 and a current ratio of 2.12. The stock has a market capitalization of $440.51 million, a PE ratio of 13.54, a P/E/G ratio of 4.69 and a beta of 0.71. Hibbett Sports has a twelve month low of $13.08 and a twelve month high of $29.60.

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC raised its position in Hibbett Sports by 464.0% during the fourth quarter. FNY Investment Advisers LLC now owns 2,713 shares of the company’s stock worth $38,000 after acquiring an additional 2,232 shares during the period. Quantamental Technologies LLC acquired a new position in Hibbett Sports during the fourth quarter worth $70,000. NumerixS Investment Technologies Inc acquired a new position in Hibbett Sports during the fourth quarter worth $82,000. Oregon Public Employees Retirement Fund acquired a new position in Hibbett Sports during the fourth quarter worth $101,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Hibbett Sports by 407.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,583 shares of the company’s stock worth $108,000 after acquiring an additional 6,090 shares during the period.

A number of analysts recently issued reports on HIBB shares. Zacks Investment Research downgraded shares of Hibbett Sports from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. BidaskClub downgraded shares of Hibbett Sports from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 23rd. Robert W. Baird increased their price target on shares of Hibbett Sports from $16.00 to $23.00 and gave the stock a “positive” rating in a report on Friday, March 22nd. Finally, ValuEngine raised shares of Hibbett Sports from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. Hibbett Sports currently has a consensus rating of “Hold” and an average target price of $22.05.

ILLEGAL ACTIVITY NOTICE: This piece was published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://www.thelincolnianonline.com/2019/05/24/hibbett-sports-hibb-posts-earnings-results-beats-estimates-by-0-29-eps.html.

About Hibbett Sports

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

Recommended Story: Convertible Shares

Earnings History for Hibbett Sports (NASDAQ:HIBB)

Receive News & Ratings for Hibbett Sports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hibbett Sports and related companies with MarketBeat.com's FREE daily email newsletter.