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HanesBrands (HBI) Gains As Market Dips: What You Should Know
HanesBrands (HBI - Free Report) closed at $5.21 in the latest trading session, marking a +1.76% move from the prior day. This move outpaced the S&P 500's daily loss of 0.7%. At the same time, the Dow lost 0.87%, and the tech-heavy Nasdaq gained 2.77%.
Heading into today, shares of the underwear, T-shirt and sock maker had lost 11.57% over the past month, lagging the Consumer Discretionary sector's loss of 8.51% and the S&P 500's loss of 5.06% in that time.
Wall Street will be looking for positivity from HanesBrands as it approaches its next earnings report date. The company is expected to report EPS of -$0.06, down 117.65% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.38 billion, down 12.75% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.35 per share and revenue of $6.1 billion, which would represent changes of -64.29% and -2.11%, respectively, from the prior year.
Any recent changes to analyst estimates for HanesBrands should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Within the past 30 days, our consensus EPS projection has moved 2.78% lower. HanesBrands is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, HanesBrands currently has a Forward P/E ratio of 14.63. For comparison, its industry has an average Forward P/E of 10.67, which means HanesBrands is trading at a premium to the group.
The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.