Brokers Set Expectations for Hibbett, Inc.’s Q1 2024 Earnings (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB – Get Rating) – Analysts at Jefferies Financial Group issued their Q1 2024 earnings estimates for Hibbett in a note issued to investors on Tuesday, March 14th. Jefferies Financial Group analyst A. Glaessgen expects that the company will post earnings of $3.17 per share for the quarter. Jefferies Financial Group currently has a “Hold” rating and a $69.00 price objective on the stock. The consensus estimate for Hibbett’s current full-year earnings is $9.64 per share. Jefferies Financial Group also issued estimates for Hibbett’s Q2 2024 earnings at $1.75 EPS, Q3 2024 earnings at $1.62 EPS, Q4 2024 earnings at $3.00 EPS, FY2024 earnings at $9.55 EPS, Q1 2025 earnings at $3.50 EPS, Q2 2025 earnings at $1.95 EPS, Q3 2025 earnings at $1.81 EPS, Q4 2025 earnings at $3.25 EPS and FY2025 earnings at $10.50 EPS.

Hibbett (NASDAQ:HIBB – Get Rating) last posted its quarterly earnings results on Friday, March 3rd. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.05). The business had revenue of $458.30 million during the quarter, compared to analyst estimates of $476.57 million. Hibbett had a return on equity of 38.15% and a net margin of 7.50%. The business’s revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS.

Several other equities analysts also recently commented on HIBB. Bank of America boosted their price target on shares of Hibbett from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Benchmark reiterated a “buy” rating and set a $80.00 target price on shares of Hibbett in a research note on Monday, March 6th. TheStreet upgraded shares of Hibbett from a “c+” rating to a “b-” rating in a research note on Tuesday, December 13th. Telsey Advisory Group reiterated an “outperform” rating and set a $80.00 target price on shares of Hibbett in a research note on Monday, March 6th. Finally, StockNews.com initiated coverage on shares of Hibbett in a research note on Thursday. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Hibbett currently has an average rating of “Moderate Buy” and a consensus target price of $78.80.

Hibbett Stock Up 1.6 %

NASDAQ:HIBB opened at $63.44 on Thursday. The company has a fifty day simple moving average of $68.86 and a two-hundred day simple moving average of $63.89. The company has a market cap of $807.59 million, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 0.53 and a beta of 1.63. Hibbett has a 52 week low of $39.58 and a 52 week high of $75.38.

Institutional Investors Weigh In On Hibbett

Institutional investors and hedge funds have recently bought and sold shares of the stock. Coppell Advisory Solutions Corp. purchased a new stake in Hibbett in the fourth quarter valued at $47,000. Belpointe Asset Management LLC purchased a new stake in shares of Hibbett in the fourth quarter valued at about $50,000. Acadian Asset Management LLC purchased a new stake in shares of Hibbett in the first quarter valued at about $50,000. Amundi raised its holdings in shares of Hibbett by 15.2% in the fourth quarter. Amundi now owns 1,222 shares of the company’s stock valued at $87,000 after buying an additional 161 shares during the last quarter. Finally, Point72 Hong Kong Ltd raised its holdings in shares of Hibbett by 47.4% in the first quarter. Point72 Hong Kong Ltd now owns 1,689 shares of the company’s stock valued at $75,000 after buying an additional 543 shares during the last quarter. 97.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hibbett

In related news, Director Terrance G. Finley sold 5,605 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $71.65, for a total value of $401,598.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by corporate insiders.

Hibbett Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Thursday, March 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. Hibbett’s dividend payout ratio (DPR) is presently 10.42%.

Hibbett Company Profile

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.