Hibbett Sports crushed top and bottom line estimates for the first quarter, on the back of solid growth in same-store and digital sales.
The sporting goods retailer reported adjusted earnings of $1.61 per share, surging past analysts’ expectations of $1.32 per share.
Net sales for the quarter climbed +25% year-over-year to $343.3 million, topping analysts' consensus estimate of $327 million. Hibbett’s total sales for the quarter included nearly $60 million from its City Gear acquisition. Also, same-store sales grew +5.1%, which is far above the -0.7% decline analysts had forecasted.
Hibbett’s President and CEO Jeff Rosenthal emphasized that strong performance in both physical stores and e-commerce channels contributed to the first quarter results. The company mentioned that relatively less sales from licensed products and team sports items were offset by gains in footwear and sneaker-connected apparel and accessories.
Looking ahead, the company now projects fiscal 2020 per-share earnings in the range of $1.70 to $1.85, which is higher than its previous forecast of $1.50 to $1.70. As for comparable store sales, Hibbett now predicts growth range of +0.5% to +2%, versus prior guidance of down -1% to up +1%.
The 10-day moving average for HIBB crossed bullishly above the 50-day moving average on April 25, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 11 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 23, 2024. You may want to consider a long position or call options on HIBB as a result. In of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for HIBB just turned positive on April 22, 2024. Looking at past instances where HIBB's MACD turned positive, the stock continued to rise in of 54 cases over the following month. The odds of a continued upward trend are .
HIBB moved above its 50-day moving average on April 23, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where HIBB advanced for three days, in of 323 cases, the price rose further within the following month. The odds of a continued upward trend are .
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 9 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 9 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where HIBB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
HIBB broke above its upper Bollinger Band on April 23, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.104) is normal, around the industry mean (3.930). P/E Ratio (9.147) is within average values for comparable stocks, (102.859). HIBB's Projected Growth (PEG Ratio) (0.000) is very low in comparison to the industry average of (1.444). Dividend Yield (0.013) settles around the average of (0.027) among similar stocks. P/S Ratio (0.546) is also within normal values, averaging (2.038).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 76, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. HIBB’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
an operator of sports stores
Industry ApparelFootwearRetail