Hibbett Sports (HIBB) Releases Earnings Results, Beats Expectations By $0.02 EPS

Hibbett Sports (HIBB) reported quarterly earnings results on Friday, May-20-2016. The company said it had a profit of $1.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.20. The company posted revenue of $282.10 million in the period, compared to analysts expectations of $285.57 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS.

Many Wall Street Analysts have commented on Hibbett Sports. MKM Partners Initiated Hibbett Sports on Apr 29, 2016 to “Neutral”, Price Target of the shares are set at $39.Hibbett Sports was Downgraded by BofA/Merrill to ” Underperform” on Apr 6, 2016. Hibbett Sports was Upgraded by Sterne Agee CRT to ” Buy” on Apr 4, 2016.

Hibbett Sports opened for trading at $31.27 and hit $32.56 on the upside on Thursday, eventually ending the session at $32.26, with a gain of 3.76% or 1.17 points. The heightened volatility saw the trading volume jump to 8,56,041 shares. Company has a market cap of $736 M.

In a different news, on Dec 10, 2015, Alton E Yother (director) sold 5,000 shares at $31.97 per share price. According to the SEC, on Dec 2, 2015, Albert C Johnson (director) sold 1,388 shares at $32.20 per share price.

Hibbett Sports Inc. operates sporting goods stores in small to mid-sized markets predominantly in the South Southwest Mid-Atlantic and Midwest regions of the United States. The Company operates around 988 retail stores in 31 states consisting of approximately 969 Hibbett Sports stores and around 19 Sports Additions athletic shoe stores. The Company’s primary retail format is Hibbett Sports an approximately 5000-square-foot store located primarily in strip centers. The Company sells merchandise of various brands such as Nike Under Armour Reebok adidas Easton and The North Face. The Company’s Hibbett Sports stores offer a range of brand name merchandise and its Sports Additions stores offer a range of fashion-based merchandise. Hibbett Team Sales Inc. a wholly owned subsidiary of the Company is a supplier of customized athletic apparel equipment and footwear primarily to school athletic programs in Alabama and parts of Georgia Florida and Mississippi.

Hibbett Sports

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