Q2 2022 EPS Estimates for Gildan Activewear Inc. Lowered by National Bank Financial (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL) – National Bank Financial cut their Q2 2022 earnings per share (EPS) estimates for Gildan Activewear in a report issued on Thursday, May 5th. National Bank Financial analyst V. Shreedhar now expects that the textile maker will post earnings of $0.71 per share for the quarter, down from their previous estimate of $0.74. National Bank Financial also issued estimates for Gildan Activewear’s Q3 2022 earnings at $0.82 EPS, Q4 2022 earnings at $0.77 EPS, FY2022 earnings at $3.05 EPS, Q1 2023 earnings at $0.71 EPS, Q2 2023 earnings at $0.76 EPS, Q3 2023 earnings at $0.89 EPS and Q4 2023 earnings at $0.83 EPS.

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) last issued its quarterly earnings results on Wednesday, May 4th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.26. Gildan Activewear had a net margin of 21.07% and a return on equity of 31.46%. The firm had revenue of $774.90 million for the quarter, compared to analyst estimates of $666.81 million. During the same period in the previous year, the business earned $0.48 EPS. The company’s revenue was up 31.4% compared to the same quarter last year.

Other research analysts have also issued reports about the stock. StockNews.com upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating in a research note on Thursday. TD Securities boosted their price objective on shares of Gildan Activewear from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, February 24th. Desjardins lowered their price objective on shares of Gildan Activewear from C$63.00 to C$55.00 in a research note on Friday. Zacks Investment Research lowered shares of Gildan Activewear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Gildan Activewear from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Gildan Activewear has a consensus rating of “Buy” and a consensus target price of $49.82.

Shares of GIL stock opened at $30.92 on Monday. The company has a current ratio of 3.33, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. Gildan Activewear has a 1 year low of $30.17 and a 1 year high of $43.63. The firm’s fifty day moving average price is $36.42 and its two-hundred day moving average price is $39.00. The firm has a market capitalization of $5.80 billion, a P/E ratio of 9.23, a PEG ratio of 1.39 and a beta of 1.44.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. bought a new stake in Gildan Activewear in the 4th quarter valued at about $30,000. Maverick Capital Ltd. bought a new stake in shares of Gildan Activewear during the 4th quarter worth approximately $33,000. Addison Advisors LLC bought a new stake in shares of Gildan Activewear during the 1st quarter worth approximately $33,000. First Manhattan Co. lifted its holdings in shares of Gildan Activewear by 66.7% during the 3rd quarter. First Manhattan Co. now owns 1,092 shares of the textile maker’s stock worth $39,000 after acquiring an additional 437 shares during the period. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Gildan Activewear during the 4th quarter worth approximately $76,000. 75.31% of the stock is owned by hedge funds and other institutional investors.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 20th. Shareholders of record on Thursday, May 26th will be issued a $0.169 dividend. 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 currently 20.30%.

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.

Recommended Stories

Earnings History and Estimates for Gildan Activewear (NYSE:GIL)

Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.