In the last trading session, 6.63 million Hanesbrands Inc (NYSE:HBI) shares changed hands as the company’s beta touched 1.66. With the company’s per share price at $4.00 changed hands at -$0.1 or -2.44% during last session, the market valuation stood at $1.40B. HBI’s last price was a discount, traded about -120.0% off its 52-week high of $8.80. The share price had its 52-week low at $3.54, which suggests the last value was 11.5% up since then. When we look at Hanesbrands Inc’s average trading volume, we note the 10-day average is 9.33 million shares, with the 3-month average coming to 6.99 million.
Analysts gave the Hanesbrands Inc (HBI) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.22. If we narrow down to specifics, the data shows that 2 out of 9 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended HBI as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Hanesbrands Inc’s EPS for the current quarter is expected to be $0.09.
Hanesbrands Inc (NYSE:HBI) trade information
Instantly HBI was in red as seen at the end of in last trading. With action 6.38%, the performance over the past five days has been green. The drop to weekly highs of 4.44 on Monday, 11/20/23 subtracted -2.44% to the stock’s daily price. The company’s shares are showing year-to-date downside of -37.11%, with the 5-day performance at 6.38% in the green. However, in the 30-day time frame, Hanesbrands Inc (NYSE:HBI) is -8.88% down. Looking at the short shares, we see there were 41.63 million shares sold at short interest cover period of 7.5 days.
The consensus price target for the stock as assigned by Wall Street analysts is $4.11, meaning bulls need an upside of 2.68% from its current market value. According to analyst projections, HBI’s forecast low is $1.00 with $5.40 as the target high. To hit the forecast high, the stock’s price needs a -35.0% plunge from its current level, while the stock would need to tank 75.0% for it to hit the projected low.
Hanesbrands Inc (HBI) estimates and forecasts
Data shows that the Hanesbrands Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -4.31% over the past 6 months, a -84.69% in annual growth rate that is considerably lower than the industry average of -7.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Hanesbrands Inc will rise 28.60%, while the growth in revenue is estimated to hit 200.00% for the next quarter. Year-over-year growth is forecast to reach -8.50% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $1.36 billion. 4 analysts are of the opinion that Hanesbrands Inc’s revenue for the quarter ending Mar 2024 will be $1.3 billion. The company’s revenue for the corresponding quarters a year ago was $1.47 billion and $1.36 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.80%. The estimates for the next quarter sales put growth at -4.20%.
The 2023 estimates are for Hanesbrands Inc earnings to decrease by -88.27%, but the outlook for the next 5-year period is at -12.40% per year.
Hanesbrands Inc is expected to release its next quarterly earnings report between January 31 and February 05.
Hanesbrands Inc (NYSE:HBI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.04% of Hanesbrands Inc shares while 93.04% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 94.02%. There are 93.04% institutions holding the Hanesbrands Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 15.91% of the shares, roughly 55.66 million HBI shares worth $252.69 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 11.00% or 38.49 million shares worth $174.75 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Undiscovered Managers Behavioral Value Fund. With 23.62 million shares estimated at $93.55 million under it, the former controlled 6.75% of total outstanding shares. On the other hand, Undiscovered Managers Behavioral Value Fund held about 3.11% of the shares, roughly 10.87 million shares worth around $49.33 million.