Gildan Activewear Inc. (NYSE:GIL) to Post Q1 2024 Earnings of $0.54 Per Share, National Bank Financial Forecasts

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Stock analysts at National Bank Financial lifted their Q1 2024 earnings per share (EPS) estimates for shares of Gildan Activewear in a research note issued on Monday, April 15th. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will post earnings per share of $0.54 for the quarter, up from their prior forecast of $0.53. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share.

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

GIL has been the topic of several other reports. UBS Group cut Gildan Activewear from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $40.00 to $37.00 in a research note on Friday, January 5th. CIBC increased their price target on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of Gildan Activewear in a research report on Monday, April 8th. Scotiabank increased their target price on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. Finally, Stifel Nicolaus raised their price target on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Gildan Activewear Price Performance

Shares of NYSE:GIL opened at $35.23 on Thursday. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. The stock’s fifty day simple moving average is $35.44 and its two-hundred day simple moving average is $33.50. Gildan Activewear has a 1-year low of $26.98 and a 1-year high of $38.87. The stock has a market cap of $5.94 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.34 and a beta of 1.38.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were issued a $0.205 dividend. 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%. The ex-dividend date of this dividend was Tuesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is presently 27.06%.

Institutional Trading of Gildan Activewear

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. bought a new position in Gildan Activewear in the 4th quarter worth about $34,456,000. Mackenzie Financial Corp boosted its position in shares of Gildan Activewear by 1.1% in the fourth quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker’s stock valued at $89,732,000 after acquiring an additional 29,193 shares during the period. Vanguard Group Inc. grew its stake in Gildan Activewear by 1.6% during the third quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock valued at $179,293,000 after acquiring an additional 97,924 shares in the last quarter. Galibier Capital Management Ltd. purchased a new position in Gildan Activewear during the third quarter valued at approximately $26,255,000. Finally, Intact Investment Management Inc. lifted its stake in Gildan Activewear by 39.3% in the 3rd quarter. Intact Investment Management Inc. now owns 100,300 shares of the textile maker’s stock worth $2,811,000 after purchasing an additional 28,300 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.