HanesBrands (HBI) ended the recent trading session at $7.34, demonstrating a -0.68% swing from the preceding day's closing price. This change lagged the S&P 500's 0.71% gain on the day. Elsewhere, the Dow gained 1.03%, while the tech-heavy Nasdaq added 0.6%.

Shares of the underwear, T-shirt and sock maker witnessed a gain of 21.15% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 6.39% and the S&P 500's gain of 6.41%.

Market participants will be closely following the financial results of HanesBrands in its upcoming release. On that day, HanesBrands is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 10%. Meanwhile, our latest consensus estimate is calling for revenue of $928.3 million, down 38.58% from the prior-year quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.34 per share and revenue of $3.6 billion. These totals would mark changes of +466.67% and -36.13%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for HanesBrands. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 2.86% fall in the Zacks Consensus EPS estimate. HanesBrands currently has a Zacks Rank of #3 (Hold).

From a valuation perspective, HanesBrands is currently exchanging hands at a Forward P/E ratio of 21.74. This represents a premium compared to its industry's average Forward P/E of 19.73.

The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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