Hibbett (NASDAQ:HIBB) Releases FY 2023 Earnings Guidance

Hibbett (NASDAQ:HIBBGet Rating) updated its FY 2023 earnings guidance on Friday. 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 -.

A number of analysts recently commented on the stock. Monness Crespi & Hardt lowered their target price 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. Benchmark lowered their target price on shares of Hibbett from $125.00 to $80.00 and set a buy rating for the company in a research note on Monday, March 7th. StockNews.com assumed coverage on shares of Hibbett in a research note on Thursday, March 31st. They issued a hold rating for the company. TheStreet lowered shares of Hibbett from a b- rating to a c+ rating in a research report on Tuesday, May 10th. Finally, Telsey Advisory Group reduced their price target on shares of Hibbett from $70.00 to $65.00 and set an outperform rating for the company in a research report on Tuesday, May 24th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Hibbett currently has an average rating of Buy and a consensus target price of $76.60.

NASDAQ:HIBB opened at $45.67 on Friday. The firm has a market cap of $590.97 million, a price-to-earnings ratio of 5.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.88. The company has a 50 day moving average price of $46.33 and a 200-day moving average price of $53.91. Hibbett has a 1-year low of $39.58 and a 1-year high of $101.65.

Hibbett (NASDAQ:HIBBGet Rating) last posted its earnings results on Friday, May 27th. The company reported $2.89 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.56). The firm had revenue of $424.10 million for the quarter, compared to analysts’ expectations of $424.20 million. Hibbett had a net margin of 8.01% and a return on equity of 39.56%. Hibbett’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same period last year, the firm earned $5.00 earnings per share. As a group, equities research analysts forecast that Hibbett will post 9.57 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 21st. Investors of record on Thursday, June 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. Hibbett’s dividend payout ratio is currently 11.52%.

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Hibbett in the 1st quarter valued at $50,000. Captrust Financial Advisors boosted its stake in Hibbett by 67.9% during the 1st quarter. Captrust Financial Advisors now owns 1,691 shares of the company’s stock worth $75,000 after purchasing an additional 684 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in Hibbett by 47.4% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,689 shares of the company’s stock worth $75,000 after purchasing an additional 543 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Hibbett during the 1st quarter worth $238,000. Finally, Baird Financial Group Inc. boosted its stake in Hibbett by 15.0% during the 1st quarter. Baird Financial Group Inc. now owns 6,323 shares of the company’s stock worth $280,000 after purchasing an additional 827 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Hibbett Company Profile (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.

Further Reading

Earnings History and Estimates for Hibbett (NASDAQ:HIBB)

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