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HanesBrands (HBI) Gains As Market Dips: What You Should Know
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HanesBrands (HBI - Free Report) ended the recent trading session at $6.98, demonstrating a +0.43% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.36%.
The underwear, T-shirt and sock maker's shares have seen an increase of 14.12% over the last month, surpassing the Consumer Discretionary sector's gain of 2.68% and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of HanesBrands in its upcoming release. On that day, HanesBrands is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 20%. Meanwhile, the latest consensus estimate predicts the revenue to be $933.3 million, indicating a 38.25% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.35 per share and a revenue of $3.61 billion, representing changes of +483.33% and -35.98%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for HanesBrands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. HanesBrands presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, HanesBrands is currently exchanging hands at a Forward P/E ratio of 19.86. This represents a premium compared to its industry's average Forward P/E of 19.31.
The Textile - Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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HanesBrands (HBI) Gains As Market Dips: What You Should Know
HanesBrands (HBI - Free Report) ended the recent trading session at $6.98, demonstrating a +0.43% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.36%.
The underwear, T-shirt and sock maker's shares have seen an increase of 14.12% over the last month, surpassing the Consumer Discretionary sector's gain of 2.68% and the S&P 500's gain of 2.06%.
The investment community will be paying close attention to the earnings performance of HanesBrands in its upcoming release. On that day, HanesBrands is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 20%. Meanwhile, the latest consensus estimate predicts the revenue to be $933.3 million, indicating a 38.25% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.35 per share and a revenue of $3.61 billion, representing changes of +483.33% and -35.98%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for HanesBrands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. HanesBrands presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, HanesBrands is currently exchanging hands at a Forward P/E ratio of 19.86. This represents a premium compared to its industry's average Forward P/E of 19.31.
The Textile - Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.