Gildan Activewear Inc. (NYSE:GIL – Get 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.
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.
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