Analysts Expect Hibbett Sports, Inc. (NASDAQ:HIBB) Will Post Earnings of $0.41 Per Share

AQR Capital Management LLC now owns 89,231 shares of the company’s stock worth $976,000 after purchasing an additional 66,182 shares during the …

Hibbett Sports logoWall Street analysts expect Hibbett Sports, Inc. (NASDAQ:HIBB) to announce $0.41 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Hibbett Sports’ earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.36. Hibbett Sports reported earnings per share of $0.33 during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.2%. The company is expected to announce its next quarterly earnings report on Friday, November 27th.

According to Zacks, analysts expect that Hibbett Sports will report full-year earnings of $4.34 per share for the current fiscal year, with EPS estimates ranging from $4.21 to $4.46. For the next financial year, analysts forecast that the business will post earnings of $3.13 per share, with EPS estimates ranging from $2.90 to $3.35. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Hibbett Sports.

Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Friday, August 28th. The company reported $2.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $1.80. The business had revenue of $441.07 million during the quarter, compared to analyst estimates of $408.43 million. Hibbett Sports had a return on equity of 21.30% and a net margin of 2.56%. The company’s revenue was up 74.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) EPS.

Several brokerages recently weighed in on HIBB. Credit Suisse Group lifted their price target on Hibbett Sports from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Zacks Investment Research upgraded Hibbett Sports from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research note on Monday, August 31st. ValuEngine upgraded Hibbett Sports from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. Susquehanna Bancshares restated a “buy” rating and issued a $40.00 price target on shares of Hibbett Sports in a research note on Friday, August 28th. Finally, Bank of America upgraded Hibbett Sports from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $30.00 in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Hibbett Sports has a consensus rating of “Buy” and an average price target of $32.00.

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In other news, Director Terrance G. Finley sold 30,236 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $34.06, for a total transaction of $1,029,838.16. Following the transaction, the director now directly owns 13,438 shares in the company, valued at approximately $457,698.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP William G. Quinn sold 1,691 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $34.18, for a total value of $57,798.38. Following the transaction, the senior vice president now owns 4,956 shares in the company, valued at $169,396.08. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new position in shares of Hibbett Sports during the 1st quarter worth approximately $443,000. State Street Corp boosted its holdings in shares of Hibbett Sports by 10.3% during the 1st quarter. State Street Corp now owns 710,555 shares of the company’s stock worth $7,770,000 after purchasing an additional 66,563 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Hibbett Sports during the 2nd quarter worth approximately $783,000. AQR Capital Management LLC boosted its holdings in shares of Hibbett Sports by 287.1% during the 1st quarter. AQR Capital Management LLC now owns 89,231 shares of the company’s stock worth $976,000 after purchasing an additional 66,182 shares during the last quarter. Finally, AJO LP lifted its holdings in Hibbett Sports by 44.0% in the first quarter. AJO LP now owns 309,773 shares of the company’s stock valued at $3,386,000 after acquiring an additional 94,619 shares during the last quarter.

Shares of Hibbett Sports stock traded down $0.05 on Friday, hitting $32.86. The company’s stock had a trading volume of 556,000 shares, compared to its average volume of 666,746. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 1.70. Hibbett Sports has a 1 year low of $7.33 and a 1 year high of $34.89. The firm has a fifty day moving average price of $25.93 and a 200-day moving average price of $19.47. The company has a market capitalization of $543.24 million, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 0.55 and a beta of 1.80.

Hibbett Sports Company Profile

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

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