Desjardins Weighs in on Gildan Activewear Inc.’s Q2 2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Research analysts at Desjardins dropped their Q2 2024 earnings per share estimates for shares of Gildan Activewear in a research note issued on Thursday, May 2nd. Desjardins analyst C. Li now forecasts that the company will post earnings of $0.96 per share for the quarter, down from their previous estimate of $1.03. Desjardins has a “Buy” rating and a $55.00 price target on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.01 per share. Desjardins also issued estimates for Gildan Activewear’s Q3 2024 earnings at $1.12 EPS and Q4 2024 earnings at $1.08 EPS.

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

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

Gildan Activewear Stock Performance

Shares of GIL opened at C$45.30 on Monday. The company has a quick ratio of 0.87, a current ratio of 2.33 and a debt-to-equity ratio of 55.97. The firm has a market cap of C$7.64 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 2.70 and a beta of 1.62. Gildan Activewear has a 52-week low of C$36.42 and a 52-week high of C$52.80. The business’s 50 day moving average is C$48.32 and its two-hundred day moving average is C$46.18.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.277 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.11 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Wednesday, May 22nd. Gildan Activewear’s payout ratio is currently 26.70%.

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.