Hibbett Gets Price Target Cuts By Analysts After Weak Q1 Earnings
Portfolio Pulse from Lisa Levin
Hibbett, Inc. (NASDAQ:HIBB) reported weaker-than-expected Q1 FY23 results, with sales growth of 7.4% YoY to $455.50 million, missing the consensus of $460.40 million. EPS of $2.74 also missed the analyst consensus of $3.04. Following the earnings announcement, several analysts cut their price targets on Hibbett.
May 30, 2023 | 11:58 am
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Hibbett's weaker-than-expected Q1 FY23 results led to price target cuts by Telsey Advisory Group, Baird, and Williams Trading. Hibbett shares dropped 11.3% on Friday.
Hibbett's weaker-than-expected Q1 FY23 results caused analysts to cut their price targets, which negatively impacted the stock price. The stock dropped 11.3% on Friday, indicating a bearish short-term outlook for the company.
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