Brokers Set Expectations for Hibbett, Inc.’s Q3 2024 Earnings (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB – Get Rating) – Analysts at Telsey Advisory Group decreased their Q3 2024 earnings per share (EPS) estimates for shares of Hibbett in a report issued on Tuesday, May 23rd. Telsey Advisory Group analyst C. Fernandez now anticipates that the company will earn $1.55 per share for the quarter, down from their previous estimate of $2.00. Telsey Advisory Group currently has a “Outperform” rating and a $80.00 target price on the stock. The consensus estimate for Hibbett’s current full-year earnings is $9.54 per share. Telsey Advisory Group also issued estimates for Hibbett’s Q4 2024 earnings at $3.02 EPS, FY2024 earnings at $8.75 EPS, Q1 2025 earnings at $3.40 EPS, Q2 2025 earnings at $1.66 EPS, Q3 2025 earnings at $1.79 EPS and FY2025 earnings at $10.10 EPS.

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

A number of other equities analysts have also weighed in on HIBB. Benchmark reaffirmed a “buy” rating and set a $80.00 target price on shares of Hibbett in a research report on Monday, March 6th. StockNews.com lowered shares of Hibbett from a “buy” rating to a “hold” rating in a research report on Monday. Robert W. Baird boosted their price objective on shares of Hibbett from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, March 6th. Jefferies Financial Group assumed coverage on shares of Hibbett in a research report on Tuesday, March 14th. They set a “hold” rating and a $69.00 price objective on the stock. Finally, Bank of America upped 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.80.

Hibbett Stock Performance

Shares of HIBB stock opened at $44.16 on Thursday. Hibbett has a fifty-two week low of $42.12 and a fifty-two week high of $75.38. The stock has a 50 day simple moving average of $55.70 and a two-hundred day simple moving average of $63.28. The company has a market cap of $562.91 million, a P/E ratio of 4.60, a PEG ratio of 0.39 and a beta of 1.58.

Institutional Investors Weigh In On Hibbett

A number of institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Hibbett by 98.6% during the first quarter. JPMorgan Chase & Co. now owns 226,705 shares of the company’s stock worth $10,053,000 after purchasing an additional 112,526 shares in the last quarter. HighTower Advisors LLC grew its holdings in Hibbett by 3.9% in the 1st quarter. HighTower Advisors LLC now owns 10,427 shares of the company’s stock valued at $462,000 after buying an additional 395 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Hibbett in the 1st quarter valued at $50,000. MetLife Investment Management LLC grew its holdings in Hibbett by 15.6% in the 1st quarter. MetLife Investment Management LLC now owns 6,500 shares of the company’s stock valued at $288,000 after buying an additional 876 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Hibbett by 153.0% in the 1st quarter. Sei Investments Co. now owns 13,514 shares of the company’s stock valued at $599,000 after buying an additional 8,172 shares in the last quarter. Institutional investors and hedge funds own 97.94% of the company’s stock.

Insider Buying and Selling

In other Hibbett news, Director James A. Hilt sold 8,154 shares of the stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $61.18, for a total transaction of $498,861.72. Following the completion of the sale, the director now directly owns 2,380 shares of the company’s stock, valued at approximately $145,608.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director James A. Hilt sold 8,154 shares of Hibbett stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $61.18, for a total transaction of $498,861.72. Following the completion of the sale, the director now directly owns 2,380 shares in the company, valued at $145,608.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Terrance G. Finley sold 5,605 shares of Hibbett stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $71.65, for a total value of $401,598.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,473 shares of company stock valued at $943,300. 2.98% of the stock is owned by corporate insiders.

Hibbett Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 28th. Investors of record on Thursday, March 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, March 15th. Hibbett’s dividend payout ratio is 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.