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May 30, 2022

Hibbett Sports (HIBB, $52.50) Q1 earnings missed Zacks Consensus Estimate

Hibbett Sports posted first quarter earnings that fell short of Zacks Consensus expectations. Revenue, however, topped estimates despite a year-over-year decline.

The sports apparel company’s adjusted earnings came in at $2.89 per share for the quarter, below Zacks Consensus Estimate of $3.29. The EPS is -42% lower than the year-ago quarter’s $5.00.

Net sales plunged -16.3% year over year to $424 million for the quarter, but exceeded Zacks Consensus Estimate of $406 million.

Comparable store sales (comps) decreased +18.9%, while in-store comps fell -22% .

E-commerce sales climbed +4.1% for the quarter under review. It  soared + 116.9% on a two-year basis.

The gross profit margin contracted 440 basis points (bps) to 37% due to high store occupancy, increasing average product costs, and higher freight and transportation costs. Operating margin contracted -970 bps to 12% for the quarter.

Hibbett updated its FY 2023 earnings toutlook to  $9.75-$10.50 per share, and its FY23 forecast to $9.75-10.50 a share.

Related Ticker: HIBB

HIBB in +1.31% Uptrend, rising for three consecutive days on June 10, 2024

Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where HIBB advanced for three days, in of 326 cases, the price rose further within the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on June 10, 2024. You may want to consider a long position or call options on HIBB as a result. In of 87 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 288 cases where HIBB Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for HIBB moved out of overbought territory on June 13, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 similar instances where the indicator moved out of overbought territory. In of the 40 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.

The Moving Average Convergence Divergence Histogram (MACD) for HIBB turned negative on May 14, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 54 similar instances when the indicator turned negative. In of the 54 cases the stock turned lower in the days that followed. This puts the odds of success at .

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 June 10, 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.

Fundamental Analysis (Ratings)

Fear & Greed

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 74, 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.

Notable companies

The most notable companies in this group are TJX Companies (NYSE:TJX), lululemon athletica (NASDAQ:LULU), Gap (The) (NYSE:GPS), Abercrombie & Fitch Co (NYSE:ANF), Foot Locker (NYSE:FL), Guess (NYSE:GES), Stitch Fix (NASDAQ:SFIX).

Industry description

Companies in the apparel and/or footwear retail industry sell clothing, accessories and footwear, for different age groups and genders. The industry’s product categories could range from basics, such as underwear, to luxury items. Some retailers source items from wholesalers or an apparel brand to sell in their stores; some others are licensed to make and market their own retail goods under particular brands. Several companies outsource production of clothing to developing/emerging economies where labor costs are relatively inexpensive. Apparel retail is often influenced by fashion trends, and many companies feel the need to adapt to what’s “in vogue” to retain customers and attract new ones. A major disruption in this industry has been the burgeoning trend in digital shopping – to compete with rapidly growing e-commerce, even traditional retail players are upping the ante on their online platforms. Much of the products’ performance in apparel/footwear retail is cyclical, i.e., economic boom times encourage consumer spending, while recessions induce thriftiness among people. Some large-cap U.S. apparel/footwear retail companies include TJX Companies Inc., Ross Stores, Inc., Lululemon Athletica Inc. and Burlington Stores, Inc.

Market Cap

The average market capitalization across the Apparel/Footwear Retail Industry is 12.67B. The market cap for tickers in the group ranges from 256K to 119.4B. IDEXY holds the highest valuation in this group at 119.4B. The lowest valued company is DESTQ at 256K.

High and low price notable news

The average weekly price growth across all stocks in the Apparel/Footwear Retail Industry was -2%. For the same Industry, the average monthly price growth was -2%, and the average quarterly price growth was 47%. MRPLY experienced the highest price growth at 8%, while PLCE experienced the biggest fall at -18%.

Volume

The average weekly volume growth across all stocks in the Apparel/Footwear Retail Industry was -18%. For the same stocks of the Industry, the average monthly volume growth was 3% and the average quarterly volume growth was -55%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 54
P/E Growth Rating: 44
Price Growth Rating: 56
SMR Rating: 65
Profit Risk Rating: 74
Seasonality Score: 4 (-100 ... +100)
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HIBBDaily Signal changed days agoGain/Loss if shorted
 
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General Information

an operator of sports stores

Industry ApparelFootwearRetail

Profile
Fundamentals
Details
Industry
Specialty Stores
Address
2700 Milan Court
Phone
+1 205 942-4292
Employees
12500
Web
https://www.hibbett.com
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