Gildan Activewear Inc. (NYSE:GIL) Expected to Post Q2 2024 Earnings of $0.77 Per Share

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Analysts at National Bank Financial decreased their Q2 2024 earnings per share estimates for Gildan Activewear in a research report issued on Wednesday, May 1st. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will post earnings per share of $0.77 for the quarter, down from their prior forecast of $0.82. 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 Q3 2024 earnings at $0.86 EPS, Q4 2024 earnings at $0.77 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.94 EPS and Q4 2025 earnings at $0.85 EPS.

A number of other research analysts have also recently commented on GIL. CIBC upped their price target on Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. TD Securities lifted their target price on shares of Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Scotiabank upped their price target on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup increased their target price on Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.95.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $33.10 on Friday. Gildan Activewear has a 52 week low of $26.98 and a 52 week high of $38.87. The firm’s 50-day simple moving average is $35.51 and its two-hundred day simple moving average is $33.99. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.31 and a beta of 1.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 23.89%. The company had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. During the same period last year, the firm earned $0.45 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis.

Gildan Activewear Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.82 annualized dividend and a yield of 2.48%. Gildan Activewear’s payout ratio is currently 27.70%.

Institutional Trading of Gildan Activewear

Several large investors have recently modified their holdings of GIL. Byrne Asset Management LLC bought a new stake in shares of Gildan Activewear during the 3rd quarter valued at about $34,000. CWM LLC boosted its position in Gildan Activewear by 86.5% during the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 498 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Gildan Activewear by 120.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after acquiring an additional 900 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Gildan Activewear by 529.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock worth $73,000 after acquiring an additional 1,863 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Gildan Activewear in the 1st quarter valued at approximately $84,000. 82.83% of the stock is owned by institutional investors.

About Gildan Activewear

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.