FY2024 EPS Estimate for Gildan Activewear Lifted by Analyst

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Investment analysts at Desjardins boosted their FY2024 EPS estimates for shares of Gildan Activewear in a research report issued to clients and investors on Thursday, October 31st. Desjardins analyst C. Li now anticipates that the textile maker will post earnings of $2.98 per share for the year, up from their prior forecast of $2.97. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.93 per share. Desjardins also issued estimates for Gildan Activewear’s FY2025 earnings at $3.41 EPS.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. TD Securities upped their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday. Citigroup lifted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus upped their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. Finally, CIBC raised their target price on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.85.

Gildan Activewear Trading Up 1.6 %

Shares of NYSE:GIL opened at $49.66 on Monday. The business’s 50-day moving average is $46.45 and its 200 day moving average is $40.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. Gildan Activewear has a 1 year low of $28.95 and a 1 year high of $49.92. The firm has a market capitalization of $7.80 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.85 and a beta of 1.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 25.66% and a net margin of 13.06%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share.

Institutional Trading of Gildan Activewear

A number of hedge funds have recently modified their holdings of GIL. Intact Investment Management Inc. lifted its holdings in Gildan Activewear by 204.8% in the second quarter. Intact Investment Management Inc. now owns 881,100 shares of the textile maker’s stock valued at $33,416,000 after acquiring an additional 591,980 shares during the period. National Bank of Canada FI lifted its stake in shares of Gildan Activewear by 43.8% in the 1st quarter. National Bank of Canada FI now owns 1,762,761 shares of the textile maker’s stock valued at $65,451,000 after purchasing an additional 537,215 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in Gildan Activewear by 28.0% during the second quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker’s stock worth $70,696,000 after buying an additional 407,113 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Gildan Activewear by 31.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,573,695 shares of the textile maker’s stock valued at $59,674,000 after buying an additional 377,135 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Gildan Activewear by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker’s stock valued at $97,290,000 after buying an additional 324,304 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gildan Activewear Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be issued a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.22%. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

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.