HanesBrands stock rose despite market dip, with positive estimate revisions and potential for future gains

From Nasdaq: 2024-09-20 18:15:20

HanesBrands (HBI) closed at $6.98, up 0.43%, outperforming the S&P 500 and Nasdaq. Shares rose 14.12% in the last month, exceeding sector and market gains. Earnings report estimates project $0.12 per share, 20% growth YoY, with $933.3M revenue, a 38.25% decline.

Analyst forecasts for HanesBrands show earnings of $0.35 per share and revenue of $3.61 billion for the fiscal year. Recent estimate revisions indicate changing business dynamics. The Zacks Rank system links estimate changes to stock performance, with a historical average return of 25% annualy for #1 ranked stocks.

With a Zacks Rank of #3 (Hold), HanesBrands’ forward P/E ratio is 19.86, slightly higher than industry average. The Textile – Apparel industry holds a Zacks Industry Rank of 170. Tracking stock-moving metrics on Zacks.com could be crucial in upcoming sessions.

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Read more at Nasdaq: HanesBrands (HBI) Gains As Market Dips: What You Should Know