Gildan Activewear Inc. (NYSE:GIL) to Post FY2024 Earnings of $2.99 Per Share, National Bank Financial Forecasts

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Research analysts at National Bank Financial raised their FY2024 earnings estimates for shares of Gildan Activewear in a note issued to investors on Monday, April 15th. National Bank Financial analyst V. Shreedhar now expects that the textile maker will post earnings per share of $2.99 for the year, up from their prior estimate of $2.98. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q1 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.97 EPS and FY2025 earnings at $3.28 EPS.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The firm had revenue of $782.70 million during the quarter, compared to the consensus estimate of $753.35 million. During the same quarter last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price objective on shares of Gildan Activewear in a research report on Monday, April 8th. TD Securities increased their price objective on shares of Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Citigroup increased their price objective on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. CIBC increased their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, UBS Group lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $37.00 in a research report on Friday, January 5th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.25.

Gildan Activewear Stock Down 2.1 %

Shares of NYSE:GIL opened at $35.23 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. Gildan Activewear has a 12 month low of $26.98 and a 12 month high of $38.87. The company has a 50-day moving average price of $35.44 and a 200 day moving average price of $33.50. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.34 and a beta of 1.38.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.33%. Gildan Activewear’s dividend payout ratio (DPR) is 27.06%.

Hedge Funds Weigh In On Gildan Activewear

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Natixis Advisors L.P. boosted its stake in shares of Gildan Activewear by 2.5% during the third quarter. Natixis Advisors L.P. now owns 13,204 shares of the textile maker’s stock valued at $370,000 after purchasing an additional 324 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Gildan Activewear by 1.5% during the third quarter. Avior Wealth Management LLC now owns 27,704 shares of the textile maker’s stock valued at $776,000 after purchasing an additional 400 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Gildan Activewear by 2.5% during the second quarter. Alliancebernstein L.P. now owns 18,148 shares of the textile maker’s stock valued at $585,000 after purchasing an additional 435 shares in the last quarter. CWM LLC boosted its stake in shares of Gildan Activewear by 86.5% during the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 498 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Gildan Activewear by 2.2% during the second quarter. Sei Investments Co. now owns 29,049 shares of the textile maker’s stock valued at $937,000 after purchasing an additional 637 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.