Q2 2024 EPS Estimates for Gildan Activewear Inc. Cut by National Bank Financial (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Equities researchers at National Bank Financial cut their Q2 2024 earnings per share (EPS) estimates for shares of Gildan Activewear in a report issued on Wednesday, May 1st. National Bank Financial analyst V. Shreedhar now expects that the company will earn $1.06 per share for the quarter, down from their prior forecast of $1.13. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.01 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q3 2024 earnings at $1.18 EPS, FY2024 earnings at $4.10 EPS, Q1 2025 earnings at $0.74 EPS and Q3 2025 earnings at $1.29 EPS.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its earnings results on Wednesday, February 21st. The company reported C$1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$1.07 billion for the quarter, compared to analyst estimates of C$1.02 billion.

A number of other equities research analysts also recently weighed in on GIL. Desjardins boosted their price target on Gildan Activewear from C$53.00 to C$55.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. National Bankshares upped their price objective on Gildan Activewear from C$52.00 to C$58.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, 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 equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$47.00.

Gildan Activewear Price Performance

Shares of TSE GIL opened at C$45.30 on Monday. Gildan Activewear has a twelve month low of C$36.42 and a twelve month high of C$52.80. The company has a current ratio of 2.33, a quick ratio of 0.87 and a debt-to-equity ratio of 55.97. The company has a market capitalization of C$7.64 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.62. The business has a 50 day simple moving average of C$48.32 and a 200-day simple moving average of C$46.18.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd will be paid a $0.277 dividend. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, May 22nd. This represents a $1.11 annualized dividend and a dividend yield of 2.45%. Gildan Activewear’s dividend payout ratio is presently 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.