Desjardins Expects Increased Earnings for Gildan Activewear

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Equities research analysts at Desjardins boosted their FY2024 EPS estimates for Gildan Activewear in a research report issued to clients and investors on Thursday, October 31st. Desjardins analyst C. Li now forecasts that the company will post earnings of $4.11 per share for the year, up from their prior estimate of $4.10. Desjardins currently has a “Buy” rating and a $67.00 target price on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.55 per share. Desjardins also issued estimates for Gildan Activewear’s FY2025 earnings at $4.71 EPS.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.02. Gildan Activewear had a net margin of 13.01% and a return on equity of 21.95%. The firm had revenue of C$1.18 billion during the quarter, compared to the consensus estimate of C$1.17 billion.

A number of other equities analysts have also commented on the company. Citigroup raised their price objective on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. TD Securities raised their price target on Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. National Bankshares upped their price objective on shares of Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets raised shares of Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$57.20.

Gildan Activewear Stock Up 1.7 %

TSE GIL opened at C$69.29 on Monday. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. The company has a market cap of C$11.27 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 4.55 and a beta of 1.64. The company has a 50 day moving average of C$63.11 and a 200-day moving average of C$55.54. Gildan Activewear has a 1-year low of C$39.60 and a 1-year high of C$69.64.

Insiders Place Their Bets

In related news, Director Michener Chandlee acquired 1,196 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of C$40.85 per share, for a total transaction of C$48,856.60. In other news, Director Michener Chandlee acquired 1,196 shares of Gildan Activewear stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of C$40.85 per share, for a total transaction of C$48,856.60. Also, Senior Officer Benito Masi sold 50,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$41.55, for a total value of C$2,077,495.00. Over the last 90 days, insiders sold 101,620 shares of company stock valued at $4,870,471. 2.26% of the stock is currently owned by corporate insiders.

Gildan Activewear Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 33.94%.

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.