HanesBrands (HBI - Free Report) closed the most recent trading day at $17.20, moving -0.81% from the previous trading session. This change lagged the S&P 500's 0.01% gain on the day. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Prior to today's trading, shares of the underwear, T-shirt and sock maker had gained 9.75% over the past month. This has outpaced the Consumer Discretionary sector's gain of 1.53% and the S&P 500's gain of 2.55% in that time.
Investors will be hoping for strength from HBI as it approaches its next earnings release, which is expected to be November 5, 2020. In that report, analysts expect HBI to post earnings of $0.36 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.60 billion, down 14.06% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.43 per share and revenue of $6.32 billion. These totals would mark changes of -18.75% and -9.35%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for HBI. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. HBI is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that HBI has a Forward P/E ratio of 12.09 right now. This valuation marks a discount compared to its industry's average Forward P/E of 45.98.
Meanwhile, HBI's PEG ratio is currently 3.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HBI's industry had an average PEG ratio of 6.82 as of yesterday's close.
The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.