In the last trading session, 6.48 million shares of the Hanesbrands Inc (NYSE:HBI) were traded, and its beta was 1.59. Most recently the company’s share price was $5.74, and it changed around -$0.06 or -1.03% from the last close, which brings the market valuation of the company to $2.02B. HBI currently trades at a discount to its 52-week high of $5.86, offering almost -2.09% off that amount. The share price’s 52-week low was $3.54, which indicates that the current value has risen by an impressive 38.33% since then. We note from Hanesbrands Inc’s average daily trading volume that its 10-day average is 6.96 million shares, with the 3-month average coming to 9.01 million.
Hanesbrands Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.25. If we narrow it down even further, the data shows that 0 out of 15 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 8 recommended HBI as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Hanesbrands Inc is expected to report earnings per share of -$0.07 for the current quarter.
Hanesbrands Inc (NYSE:HBI) trade information
Instantly HBI has showed a red trend with a performance of -1.03% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 28.70% year-to-date, but still up 12.11% over the last five days. On the other hand, Hanesbrands Inc (NYSE:HBI) is 6.30% up in the 30-day period. We can see from the shorts that 49.02 million shares have been sold at a short interest cover period of 3.74 day(s).
The consensus price target as assigned by Wall Street analysts is $9.5, which translates to bulls needing to increase their stock price by 39.58% from its current value. Analyst projections state that HBI is forecast to be at a low of $7 and a high of $12.
Hanesbrands Inc (HBI) estimates and forecasts
Hanesbrands Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 59.44 percent over the past six months and at a 633.33% annual growth rate that is well above the industry average of 3.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -16.70% in revenue this quarter, and will report an increase of 1,100.00% in the next quarter. The year-over-year growth rate is expected to be -5.40%, down from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $1.19 billion in revenue for the current quarter. 6 analysts expect Hanesbrands Inc to make $1.34 billion in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -12.90%.
Hanesbrands Inc earnings are expected to increase by 620.60% in 2024, but the outlook is negative -12.40% per year for the next five years.
HBI Dividends
Hanesbrands Inc’s next quarterly earnings report is expected to be released around May 01 and May 06.
Hanesbrands Inc (NYSE:HBI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.85% of Hanesbrands Inc shares, and 89.48% of them are in the hands of institutional investors. The stock currently has a share float of 90.24%. Hanesbrands Inc stock is held by 526 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 15.91% of the shares, which is about 55.66 million shares worth $252.69 million.
Vanguard Group Inc, with 11.00% or 38.49 million shares worth $174.75 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
iShares Core S&P Smallcap ETF and Undiscovered Managers Behavioral Value Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 23.62 million shares worth $93.55 million, making up 6.75% of all outstanding shares. On the other hand, Undiscovered Managers Behavioral Value Fund held roughly 10.87 million shares worth around $49.33 million, which represents about 3.11% of the total shares outstanding.
