Yahoo Finance HanesBrands (HBI) Rises Higher Than Market: Key Facts
HanesBrands (HBI) closed the most recent trading day at $4.84, moving +0.41% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.09%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.3%.
Coming into today, shares of the underwear, T-shirt and sock maker had gained 0.21% in the past month. In that same time, the Consumer Discretionary sector gained 2.11%, while the S&P 500 gained 3.38%.
Investors will be eagerly watching for the performance of HanesBrands in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.10, showcasing a 1100% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.35 billion, indicating a 6.14% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.46 per share and revenue of $5.37 billion, which would represent changes of +666.67% and -4.66%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for HanesBrands. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 past month, the Zacks Consensus EPS estimate has moved 0.74% higher. Right now, HanesBrands possesses a Zacks Rank of #1 (Strong Buy).
Investors should also note HanesBrands's current valuation metrics, including its Forward P/E ratio of 10.56. This expresses a discount compared to the average Forward P/E of 14.48 of its industry.
The Textile - Apparel industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 78, this industry ranks in the top 31% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Hanesbrands Inc. (HBI) : Free Stock Analysis Report
