Hibbett Sports (HIBB) Releases Earnings Results, Beats Expectations By $0.01 EPS

Hibbett Sports (HIBB) reported quarterly earnings results on Friday, Aug-19-2016. The company said it had a profit of $0.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.28. The company posted revenue of $206.90 million in the period, compared to analysts expectations of $209.39 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Hibbett Sports. Susquehanna Initiated Hibbett Sports on Aug 12, 2016 to “Positive”, Price Target of the shares are set at $45.Hibbett Sports was Resumed by Stifel to “Hold” on Jun 24, 2016.

Hibbett Sports closed down -2.62 points or -6.56% at $37.34 with 10,39,942 shares getting traded on Wednesday. Post opening the session at $39.93, the shares hit an intraday low of $36.865 and an intraday high of $39.93 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jul 12, 2016, Michael J Newsome (director) sold 20,000 shares at $36.10 per share price. According to the SEC, on Jul 12, 2016, Alton E Yother (director) sold 1,331 shares at $35.62 per share price. On Jun 20, 2016, Cathy E Pryor (Senior VP of Operations) sold 5,000 shares at $35.18 per share price, according to the Form-4 filing with the securities and exchange commission.

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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