In the latest trading session, HanesBrands (HBI) closed at $7.26, marking a -0.14% move from the previous day. This change lagged the S&P 500's 0.16% gain on the day. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.78%.
Coming into today, shares of the underwear, T-shirt and sock maker had lost 1.09% in the past month. In that same time, the Consumer Discretionary sector gained 0.21%, while the S&P 500 gained 1.67%.
The investment community will be paying close attention to the earnings performance of HanesBrands in its upcoming release. The company is slated to reveal its earnings on November 7, 2024. The company is predicted to post an EPS of $0.11, indicating a 10% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $928.3 million, down 38.58% from the year-ago period.
HBI's full-year Zacks Consensus Estimates are calling for earnings of $0.34 per share and revenue of $3.6 billion. These results would represent year-over-year changes of +466.67% and -36.13%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for HanesBrands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.86% lower. HanesBrands is currently a Zacks Rank #4 (Sell).
Digging into valuation, HanesBrands currently has a Forward P/E ratio of 21.38. This expresses a premium compared to the average Forward P/E of 19.77 of its industry.
The Textile - Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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