NEW YORK (TheStreet) -- Shares of Hanesbrands (HBI) - Get Report were climbing 5.04% to $25 in after-hours trading on Thursday after the company gave an upbeat revenue outlook for the 2016 fourth quarter.
After today's closing bell, the Winston Salem, NC-based clothing company said it anticipates fourth-quarter revenue of $1.70 billion to $1.73 billion, higher than analysts' view of $1.69 billion.
Hanes projects adjusted earnings per share of 57 cents to 60 cents for the fourth quarter. Wall Street is looking for earnings of 59 cents per share.
For fiscal 2016, the company forecasts adjusted earnings per share between $1.89 and $1.92 vs. its prior guidance of $1.89 to $1.95. The company expects full-year revenue of $6.15 billion to $6.18 billion compared to its previous estimate of $6.15 billion to $6.25 billion.
Wall Street is modeling earnings of $1.92 per share on revenue of $6.15 billion for 2016.
For the 2016 third quarter, Hanes reported adjusted earnings of 56 cents per share, which met analysts' estimates. Revenue rose 11% to $1.76 billion year-over-year, but fell short of Wall Street's projections of $1.77 billion.
About 6.39 million Hanes shares traded today vs. its 30-day average volume of 3.64 million.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, notable return on equity, good cash flow from operations 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