Desjardins Lifts Earnings Estimates for Gildan Activewear

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Desjardins increased their Q3 2024 earnings estimates for Gildan Activewear in a report issued on Thursday, October 24th. Desjardins analyst C. Li now forecasts that the company will post earnings of $1.16 per share for the quarter, up from their previous estimate of $1.15. 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 $4.69 EPS.

Other analysts have also recently issued reports about the company. Citigroup upped their price objective on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. TD Securities boosted their price target on shares of 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 increased their price objective on shares of Gildan Activewear from C$58.00 to C$68.00 in a research report on Wednesday, October 9th. Finally, BMO Capital Markets upgraded shares of Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. One investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$56.00.

Gildan Activewear Price Performance

TSE:GIL opened at C$66.81 on Monday. The company has a market capitalization of C$10.86 billion, a P/E ratio of 20.43, a P/E/G ratio of 4.55 and a beta of 1.64. The business’s 50-day moving average is C$62.07 and its 200 day moving average is C$54.87. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. Gildan Activewear has a 12 month low of C$37.78 and a 12 month high of C$67.19.

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

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.68%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s payout ratio is presently 33.94%.

Insider Buying and Selling at Gildan Activewear

In other news, Senior Officer Benito Masi sold 50,000 shares of the firm’s 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. In other news, Senior Officer Benito Masi sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. Also, Senior Officer Jason De Haan sold 19,105 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$42.05, for a total value of C$803,365.25. Insiders have sold 101,620 shares of company stock worth $4,870,471 over the last quarter. Insiders own 2.26% of the company’s stock.

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.