Gildan Activewear (GIL) Set to Announce Earnings on Wednesday

Gildan Activewear (NYSE:GIL) (TSE:GIL) will be posting its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Gildan Activewear to post earnings of $0.52 per share for the quarter. Gildan Activewear has set its FY 2024 guidance at 2.920-3.070 EPS and its FY24 guidance at $2.92-3.07 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly 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. The firm had revenue of $782.70 million for the quarter, compared to analyst estimates of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. On average, analysts expect Gildan Activewear to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $35.30 on Monday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.38. Gildan Activewear has a 52 week low of $26.98 and a 52 week high of $38.87. The firm has a 50-day simple moving average of $35.57 and a 200-day simple moving average of $33.88. The company has a quick ratio of 0.83, a current ratio of 2.33 and a debt-to-equity ratio of 0.39.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Wednesday, March 13th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 2.32%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, March 12th. Gildan Activewear’s payout ratio is presently 27.06%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. CIBC increased their target price on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Citigroup lifted their target price on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada restated an “outperform” rating and set a $41.00 price target on shares of Gildan Activewear in a research note on Monday, April 8th. 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. Finally, Stifel Nicolaus increased their target price on 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 assigned a buy rating to the stock. According to MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and an average price target of $41.25.

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.