Hibbett (NASDAQ:HIBB) Updates FY 2023 Earnings Guidance

Hibbett (NASDAQ:HIBBGet Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $9.75-$10.50 for the period, compared to the consensus estimate of $9.74. The company issued revenue guidance of -.

HIBB has been the subject of several analyst reports. StockNews.com assumed coverage on Hibbett in a research note on Thursday, March 31st. They issued a hold rating for the company. TheStreet lowered Hibbett from a b- rating to a c+ rating in a research report on Tuesday, May 10th. Telsey Advisory Group cut their price objective on shares of Hibbett from $70.00 to $65.00 and set an outperform rating on the stock in a report on Tuesday, May 24th. Robert W. Baird lowered their target price on shares of Hibbett from $75.00 to $70.00 and set an outperform rating for the company in a report on Friday, May 27th. Finally, Monness Crespi & Hardt decreased their price objective on shares of Hibbett from $120.00 to $80.00 and set a buy rating for the company in a research note on Tuesday, February 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Hibbett has a consensus rating of Buy and a consensus target price of $75.67.

HIBB opened at $50.26 on Friday. Hibbett has a twelve month low of $39.58 and a twelve month high of $101.65. The company’s 50-day moving average price is $45.36 and its two-hundred day moving average price is $57.03. The stock has a market cap of $660.42 million, a price-to-earnings ratio of 5.79, a PEG ratio of 1.33 and a beta of 1.88.

Hibbett (NASDAQ:HIBBGet Rating) last posted its quarterly earnings data on Friday, May 27th. The company reported $2.89 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.56). Hibbett had a net margin of 8.01% and a return on equity of 39.56%. The firm had revenue of $424.10 million during the quarter, compared to analysts’ expectations of $424.20 million. During the same quarter in the previous year, the company posted $5.00 EPS. Hibbett’s revenue for the quarter was down 16.3% on a year-over-year basis. On average, sell-side analysts expect that Hibbett will post 9.57 EPS for the current year.

The company also recently disclosed a dividend, which will be paid on Tuesday, June 21st. Investors of record on Thursday, June 9th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, June 8th. Hibbett’s dividend payout ratio (DPR) is currently 11.52%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley boosted its holdings in Hibbett by 4.7% in the 1st quarter. Morgan Stanley now owns 206,260 shares of the company’s stock worth $2,255,000 after buying an additional 9,242 shares during the period. LPL Financial LLC boosted its holdings in shares of Hibbett by 6.1% in the third quarter. LPL Financial LLC now owns 8,050 shares of the company’s stock worth $569,000 after acquiring an additional 460 shares during the period. UBS Group AG grew its position in shares of Hibbett by 78.8% in the third quarter. UBS Group AG now owns 4,920 shares of the company’s stock valued at $348,000 after purchasing an additional 2,168 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Hibbett by 0.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 179,297 shares of the company’s stock valued at $12,896,000 after purchasing an additional 1,013 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Hibbett by 2.7% during the 4th quarter. Legal & General Group Plc now owns 37,786 shares of the company’s stock valued at $2,718,000 after purchasing an additional 982 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

About Hibbett (Get Rating)

Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in small and mid-sized communities in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories.

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