Hanesbrands (NYSE:HBI) Swings to Profit in First Quarter on Improved Margins – HBI, GIL, ICON, MFB

Hanesbrands Inc (NYSE:HBI) reported fiscal Q1 net income was $51.38 million or $0.51 a share, evaluated against a loss of $26.83 million or $0.27 a share in previous year.

Quarterly net sales tumbled 3% to $945 million. The corporation announced operating profit margin broadened 790 basis points over the same period a year earlier, benefitting from a higher cotton-cost and product-pricing environment. Gross profit moved up 28.3% year-over-year.

Thomson Reuters 11 analysts survey on average forecasted to announce profit of $0.50 a share for three months period. Analysts forecasted revenue of $944.96 million for three months period.

Hanes backed its 2013 outlook for net sales of almost $4.6 billion and profit of $3.25 to $3.40 per share.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Gildan Activewear Inc (USA) (NYSE:GIL) up +1.99% to settle at $39.56, Iconix Brand Group Inc (NASDAQ:ICON) moved up +1.30% to end at $25.02 while Maidenform Brands, Inc. (NYSE:MFB) jumped +3.74% to finish at $18.30 on Tuesday.

Hanesbrands Inc. (NYSE:HBI) on April 23, 2013 increased +2.11% to the closing price of $48.00. The overall volume in the last trading session was 1.36 million shares. Its fifty two weeks range was $24.64 – $49.48. The total market capitalization remained at $4.72 billion.

HBI is ahead of its 52-week low with +94.81% and lagging behind from its 52-week high price with -2.99%. HBI’s last month’s stock price volatility remained 2.40%. In its share capital HBI has 98.32 million outstanding shares, among them 96.90 million shares have been floated in market exchange. HBI’s stock’s institutional ownership remained 99.77% while insider ownership included 1.51%.

The stock price of HBI is moving forward from its 20 days moving average with +3.81% and remote positively from 50 days moving average with +12.68%. HBI’s current year’s earnings per share experienced a downfall of -5.15% while its current quarter performance remained at +26.55%. Company’s beta coefficient included 1.91. Beta factors measure the amount of market risk associated with market trade.

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