NEW YORK (TheStreet) -- Shares of Hanesbrands (HBI) - Get Report were falling 11.6% to $30.17 on heavy trading volume Friday after the apparel company missed analysts' estimates for revenue in the second quarter, and lowered its 2015 revenue guidance.
Hanesbrand reported revenue of $1.52 billion for the second quarter, up 13.4% from the year-ago quarter, but below analysts' estimates of $1.56 billion. The company reported earnings of 50 cents a share for the second quarter, in line with analysts' estimates.
The company said it now expects full year 2015 revenue of "slightly less than $5.9 billion," down from its previous guidance of $5.9 billion to $5.95 billion. Analysts expect Hanesbrand to report revenue of $5.96 billion for the year.
Hanesbrand still expects to report earnings of $1.61 to $1.66 a share for full year 2015, compared to analysts' estimates of $1.65 billion.
About 4.6 million shares of Hanesbrand were traded by 10:12 a.m. Friday, above the company's average trading volume of about 2.4 million shares a day.
TheStreet Ratings team rates HANESBRANDS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HANESBRANDS INC (HBI) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
You can view the full analysis from the report here: HBI Ratings Report