NEW YORK (TheStreet) -- Shares of apparel companyHanesBrands (HBI) - Get Report was the worst-performing stock in the S&P 500 Friday, wrapping up the session with a loss of 9% on the heels of mixed second-quarter earnings.
Earnings per share of 50 cents matched Wall Street's estimates and was 16% higher than last year. But revenue of $1.52 billion missed expectations of $1.56 billion, but represents a 13% rise over the past year. For the quarter, innerwear revenue fell 1%, while activewear saw a boost of 19%. Sales overseas rose amid the the company's August 2014 takeover of DBApparel.
Shares closed at $31 Friday.
"We continue to deliver double-digit growth in adjusted operating profit and EPS as expected, and we are tracking to our full-year profit expectations," Hanes Chairman and Chief Executive Officer Richard A. Noll said. "The integrations of our DBApparel and Knights Apparel acquisitions are proceeding on plan, and we continue to reap benefits from the past acquisitions of Gear for Sports and Maidenform. Our brand innovation platforms and global supply chain performance continue to drive margin improvement."
Shares also lower on the heels of lower guidance. Hanes now forecasts sales just shy of $5.9 billion for 2015. That's down from a range of $5.9 billion to $5.95 billion, reported during its first-quarter report. Analysts at Credit Suisse held an outperform rating and a $38 price target. D.A. Davidson & Co. maintained a buy rating with a $37 target. Shares dropped about 11% from their high on April 23.
TheStreet Ratings team rates HANESBRANDS INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HANESBRANDS INC (HBI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: HBI Ratings Report