Gildan Activewear (NYSE:GIL) Announces Quarterly Earnings Results

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) released its earnings results on Wednesday. The textile maker reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.26, MarketWatch Earnings reports. The company had revenue of $774.90 million for the quarter, compared to the consensus estimate of $666.81 million. Gildan Activewear had a net margin of 20.77% and a return on equity of 29.59%. Gildan Activewear’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS.

NYSE:GIL traded down $0.60 during trading hours on Friday, reaching $30.92. 857,435 shares of the company were exchanged, compared to its average volume of 468,228. The company has a current ratio of 3.12, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average is $36.42 and its 200-day moving average is $38.97. The firm has a market cap of $5.80 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 1.59 and a beta of 1.44. Gildan Activewear has a twelve month low of $30.17 and a twelve month high of $43.63.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 20th. Shareholders of record on Thursday, May 26th will be given a dividend of $0.169 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Wednesday, May 25th. Gildan Activewear’s dividend payout ratio is presently 20.30%.

A number of large investors have recently bought and sold shares of GIL. LPL Financial LLC acquired a new position in Gildan Activewear during the third quarter worth $533,000. Geode Capital Management LLC raised its position in Gildan Activewear by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 529,877 shares of the textile maker’s stock worth $22,295,000 after acquiring an additional 20,962 shares during the period. Alliancebernstein L.P. raised its position in Gildan Activewear by 4.0% during the fourth quarter. Alliancebernstein L.P. now owns 14,957 shares of the textile maker’s stock worth $634,000 after acquiring an additional 582 shares during the period. Cubist Systematic Strategies LLC raised its position in Gildan Activewear by 364.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 69,167 shares of the textile maker’s stock worth $2,933,000 after acquiring an additional 54,265 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Gildan Activewear during the fourth quarter worth $313,000. Institutional investors own 75.31% of the company’s stock.

Several analysts have weighed in on the stock. TD Securities boosted their target price on shares of Gildan Activewear from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 24th. Canaccord Genuity Group dropped their price objective on shares of Gildan Activewear from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada upped their price objective on shares of Gildan Activewear from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday. Finally, National Bank Financial dropped their price objective on shares of Gildan Activewear from C$65.00 to C$64.00 in a report on Wednesday, March 30th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $49.82.

About Gildan Activewear (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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Earnings History for Gildan Activewear (NYSE:GIL)

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