Hibbett Sports (NASDAQ: HIBB) Reports Results, Beats Estimates by $ 0.12 EPS
Hibbett Sports (NASDAQ: HIBB) released its quarterly results on Friday. The company reported earnings per share (EPS) of $ 1.68 for the quarter, beating analyst consensus estimates of $ 1.56 by $ 0.12, MarketWatch Results reports. The company posted revenue of $ 381.70 million for the quarter, compared to a consensus estimate of $ 358.65 million. Hibbett Sports reported a return on equity of 45.01% and a net margin of 11.05%. The company’s quarterly revenue increased 15.2% year-over-year. During the same period of the previous year, the company posted earnings per share of $ 1.45.
Actions of HIBB traded at $ 3.08 by midday Friday, reaching $ 69.08. 1,329,839 shares of the company were traded, for an average volume of 363,633. Hibbett Sports has a one-year low at $ 41.70 and a one-year high at $ 101.65. The company has a debt to equity ratio of 0.01, a quick ratio of 1.00, and a current ratio of 2.06. The company has a 50-day moving average of $ 82.84 and a 200-day moving average of $ 84.88. The stock has a market cap of $ 1.02 billion, a price-to-earnings ratio of 6.44, a price-to-earnings-growth ratio of 0.28, and a beta of 1.92.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 21. Investors of record on Thursday, December 9 will receive a dividend of $ 0.25 per share. The ex-dividend date for this dividend is Wednesday December 8. This represents an annualized dividend of $ 1.00 and a dividend yield of 1.45%. Hibbett Sports’ dividend payout ratio (DPR) is currently 9.33%.
In other news from Hibbett Sports, please David Mitchell Benck acquired 2,000 shares of the company in a transaction on Friday, September 24. The stock was purchased at an average price of $ 74.34 per share, for a total transaction of $ 148,680.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In addition, CEO Michael E. Longo acquired 5,000 shares of the company in a transaction on Wednesday, October 6. The stock was purchased at an average price of $ 70.08 per share, for a total value of $ 350,400.00. Disclosure of this purchase can be found here. 1.90% of the shares are held by insiders.
Several hedge funds and other institutional investors have recently changed their positions in the company. UBS Group AG increased its stake in Hibbett Sports shares by 78.8% in the third quarter. UBS Group AG now owns 4,920 shares of the company valued at $ 348,000 after purchasing an additional 2,168 shares in the last quarter. LPL Financial LLC strengthened its position in Hibbett Sports shares by 6.1% during the 3rd quarter. LPL Financial LLC now owns 8,050 shares of the company valued at $ 569,000 after purchasing an additional 460 shares during the period. Finally, Morgan Stanley strengthened its position in Hibbett Sports shares by 70.9% during the second quarter. Morgan Stanley now owns 178,570 shares of the company valued at $ 16,006,000 after purchasing an additional 74,107 shares during the period. Institutional investors and hedge funds hold 93.21% of the company’s shares.
A number of brokerage firms have weighed in on HIBB recently. Monness Crespi & Hardt raised its price target for Hibbett Sports shares from $ 97.00 to $ 120.00 and gave the company a “buy” rating in a report released on Monday, August 30. Bank of America downgraded Hibbett Sports shares from a “buy” rating to a “neutral” rating and lowered its price target for the company from $ 120.00 to $ 88.00 in a report released Thursday . Zacks investment research downgraded Hibbett Sports shares from a âstrong buyâ rating to a âconservationâ rating and set a target price of $ 83.00 on the stock. in a report on Monday, November 1. Finally, Robert W. Baird raised his price target for Hibbett Sports shares from $ 90.00 to $ 100.00 and rated the company as “neutral” in a report released on Friday, August 27. Three analysts rated the stock with a conservation rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, Hibbett Sports currently has an average rating of “Buy” and an average price target of $ 101.83.
About Hibbett Sports
Hibbett, Inc is engaged in the supply of sporting goods. Its stores operate under the Hibbett Sporting Goods and City Gear banners and on an omnichannel platform. The company offers a basic selection of branded products with an emphasis on athletic footwear, sports and fashion clothing, team sports equipment and related accessories.
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