HanesBrands (HBI) Gains As Market Dips: What You Should Know
In the latest trading session, HanesBrands (HBI) closed at $7.28, marking a +1.82% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.13%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the underwear, T-shirt and sock maker had gained 12.07% in the past month. In that same time, the Consumer Discretionary sector gained 4.45%, while the S&P 500 gained 2.43%.
Investors will be eagerly watching for the performance of HanesBrands in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.12, marking a 20% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $933.3 million, reflecting a 38.25% fall from the equivalent quarter last year.
HBI's full-year Zacks Consensus Estimates are calling for earnings of $0.35 per share and revenue of $3.61 billion. These results would represent year-over-year changes of +483.33% and -35.98%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for HanesBrands. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HanesBrands presently features a Zacks Rank of #3 (Hold).
Looking at valuation, HanesBrands is presently trading at a Forward P/E ratio of 20.43. This signifies a premium in comparison to the average Forward P/E of 19.17 for its industry.
The Textile - Apparel industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 180, this industry ranks in the bottom 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Hanesbrands Inc. (HBI) : Free Stock Analysis Report