Hanesbrands (NYSE:HBI) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Hanesbrands (NYSE:HBI) announced its earnings results on Thursday. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04, RTT News reports. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The business’s revenue was down 16.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS.

Hanesbrands Trading Up 7.0 %

Hanesbrands stock traded up $0.31 during trading on Thursday, reaching $4.77. 5,043,659 shares of the company were exchanged, compared to its average volume of 8,467,180. The stock’s 50 day simple moving average is $5.09 and its two-hundred day simple moving average is $4.54. The company has a market capitalization of $1.68 billion, a P/E ratio of -94.98 and a beta of 1.62. 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 52-week low of $3.54 and a 52-week high of $5.86.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HBI. Wedbush boosted their price target on Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Citigroup increased their target price on shares of Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd.

About Hanesbrands

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.