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HanesBrands (HBI) Gains As Market Dips: What You Should Know
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HanesBrands (HBI - Free Report) closed the most recent trading day at $6.69, moving +1.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.06%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the underwear, T-shirt and sock maker had lost 15.6% over the past month. This has lagged the Consumer Discretionary sector's gain of 7.38% and the S&P 500's gain of 4.94% in that time.
Investors will be hoping for strength from HanesBrands as it approaches its next earnings release, which is expected to be November 9, 2022. On that day, HanesBrands is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 45.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.75 billion, down 2.02% from the year-ago period.
HBI's full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $6.5 billion. These results would represent year-over-year changes of -37.16% and -4.43%, respectively.
Investors should also note any recent changes to analyst estimates for HanesBrands. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.57% lower. HanesBrands currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that HanesBrands has a Forward P/E ratio of 5.72 right now. This represents a discount compared to its industry's average Forward P/E of 10.38.
The Textile - Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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HanesBrands (HBI) Gains As Market Dips: What You Should Know
HanesBrands (HBI - Free Report) closed the most recent trading day at $6.69, moving +1.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.06%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the underwear, T-shirt and sock maker had lost 15.6% over the past month. This has lagged the Consumer Discretionary sector's gain of 7.38% and the S&P 500's gain of 4.94% in that time.
Investors will be hoping for strength from HanesBrands as it approaches its next earnings release, which is expected to be November 9, 2022. On that day, HanesBrands is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 45.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.75 billion, down 2.02% from the year-ago period.
HBI's full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $6.5 billion. These results would represent year-over-year changes of -37.16% and -4.43%, respectively.
Investors should also note any recent changes to analyst estimates for HanesBrands. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.57% lower. HanesBrands currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that HanesBrands has a Forward P/E ratio of 5.72 right now. This represents a discount compared to its industry's average Forward P/E of 10.38.
The Textile - Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.