Analysts Issue Forecasts for Gildan Activewear Inc.’s Q1 2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Analysts at National Bank Financial raised their Q1 2024 earnings estimates for Gildan Activewear in a report released on Monday, April 15th. National Bank Financial analyst V. Shreedhar now anticipates that the company will earn $0.74 per share for the quarter, up from their prior forecast of $0.72. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.01 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q2 2024 earnings at $1.13 EPS and Q3 2024 earnings at $1.20 EPS.

GIL has been the topic of several other reports. National Bankshares increased their price objective on shares of Gildan Activewear from C$52.00 to C$58.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Desjardins increased their price objective on shares of Gildan Activewear from C$53.00 to C$55.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Gildan Activewear from C$39.00 to C$41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$47.00.

Gildan Activewear Stock Performance

Shares of TSE GIL opened at C$48.48 on Thursday. The company’s fifty day moving average price is C$48.04 and its 200 day moving average price is C$45.41. Gildan Activewear has a 1 year low of C$36.42 and a 1 year high of C$52.80. The company has a market capitalization of C$8.18 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.62. The company has a debt-to-equity ratio of 55.97, a quick ratio of 0.87 and a current ratio of 2.33.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings data on Wednesday, February 21st. The company reported C$1.02 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.99 by C$0.03. The firm had revenue of C$1.07 billion for the quarter, compared to analyst estimates of C$1.02 billion. Gildan Activewear had a net margin of 16.70% and a return on equity of 27.79%.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Monday, April 8th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, March 12th. Gildan Activewear’s dividend payout ratio is 26.70%.

Gildan Activewear Company Profile

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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.