Gildan Activewear Inc. (NYSE:GIL) Announces $0.17 Quarterly Dividend

Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL) declared a quarterly dividend on Wednesday, May 4th, Zacks reports. Investors of record on Thursday, May 26th will be given a dividend of 0.169 per share by the textile maker on Monday, June 20th. This represents a $0.68 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 25th.

Gildan Activewear has raised its dividend by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Gildan Activewear has a dividend payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gildan Activewear to earn $3.17 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 21.5%.

Gildan Activewear stock opened at $31.52 on Friday. Gildan Activewear has a fifty-two week low of $31.32 and a fifty-two week high of $43.63. The stock has a fifty day moving average of $36.59 and a two-hundred day moving average of $39.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 3.12. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.56 and a beta of 1.44.

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) last posted its quarterly earnings data on Wednesday, May 4th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.26. Gildan Activewear had a return on equity of 29.59% and a net margin of 20.77%. The business had revenue of $774.90 million for the quarter, compared to analysts’ expectations of $666.81 million. During the same quarter last year, the firm earned $0.48 earnings per share. The business’s revenue was up 31.4% on a year-over-year basis. On average, analysts forecast that Gildan Activewear will post 2.81 EPS for the current fiscal year.

Several large investors have recently modified their holdings of GIL. JustInvest LLC bought a new position in Gildan Activewear during the fourth quarter worth about $220,000. SkyView Investment Advisors LLC bought a new position in Gildan Activewear in the 4th quarter worth approximately $298,000. Schonfeld Strategic Advisors LLC bought a new position in Gildan Activewear in the 4th quarter worth approximately $313,000. LPL Financial LLC bought a new position in Gildan Activewear in the 3rd quarter worth approximately $533,000. Finally, Alliancebernstein L.P. raised its position in Gildan Activewear by 4.0% in the 4th quarter. Alliancebernstein L.P. now owns 14,957 shares of the textile maker’s stock worth $634,000 after purchasing an additional 582 shares during the last quarter. 75.31% of the stock is currently owned by institutional investors.

GIL has been the subject of a number of research reports. StockNews.com raised Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research downgraded Gildan Activewear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 26th. Royal Bank of Canada increased their price target on Gildan Activewear from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday. National Bank Financial cut their price objective on Gildan Activewear from C$65.00 to C$64.00 in a research note on Wednesday, March 30th. Finally, Canaccord Genuity Group cut their price objective on Gildan Activewear from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $50.18.

Gildan Activewear Company Profile (Get Rating)

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

Further Reading

Dividend History for Gildan Activewear (NYSE:GIL)

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