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HanesBrands (HBI) Dips More Than Broader Market: What You Should Know
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In the latest market close, HanesBrands (HBI - Free Report) reached $7.16, with a -1.38% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.56%.
Shares of the underwear, T-shirt and sock maker have appreciated by 0.41% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 0.99% and the S&P 500's gain of 1.83%.
Investors will be eagerly watching for the performance of HanesBrands in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2024. The company's earnings per share (EPS) are projected to be $0.11, reflecting a 10% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $928.3 million, reflecting a 38.58% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.34 per share and revenue of $3.6 billion, which would represent changes of +466.67% and -36.13%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for HanesBrands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 2.86% lower within the past month. HanesBrands is currently sporting a Zacks Rank of #4 (Sell).
From a valuation perspective, HanesBrands is currently exchanging hands at a Forward P/E ratio of 21.35. This indicates a premium in contrast to its industry's Forward P/E of 19.72.
The Textile - Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 183, positioning it in the bottom 28% of all 250+ industries.
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.
To follow HBI in the coming trading sessions, be sure to utilize Zacks.com.
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HanesBrands (HBI) Dips More Than Broader Market: What You Should Know
In the latest market close, HanesBrands (HBI - Free Report) reached $7.16, with a -1.38% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.56%.
Shares of the underwear, T-shirt and sock maker have appreciated by 0.41% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 0.99% and the S&P 500's gain of 1.83%.
Investors will be eagerly watching for the performance of HanesBrands in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2024. The company's earnings per share (EPS) are projected to be $0.11, reflecting a 10% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $928.3 million, reflecting a 38.58% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.34 per share and revenue of $3.6 billion, which would represent changes of +466.67% and -36.13%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for HanesBrands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 2.86% lower within the past month. HanesBrands is currently sporting a Zacks Rank of #4 (Sell).
From a valuation perspective, HanesBrands is currently exchanging hands at a Forward P/E ratio of 21.35. This indicates a premium in contrast to its industry's Forward P/E of 19.72.
The Textile - Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 183, positioning it in the bottom 28% of all 250+ industries.
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.
To follow HBI in the coming trading sessions, be sure to utilize Zacks.com.