Desjardins Raises Earnings Estimates for Gildan Activewear

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Investment analysts at Desjardins lifted their Q3 2024 earnings per share estimates for shares of Gildan Activewear in a research report issued on Thursday, October 24th. Desjardins analyst C. Li now expects that the textile maker will earn $0.84 per share for the quarter, up from their previous estimate of $0.83. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.93 per share. Desjardins also issued estimates for Gildan Activewear’s FY2024 earnings at $2.97 EPS and FY2025 earnings at $3.40 EPS.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS.

Several other analysts have also recently commented on GIL. Stifel Nicolaus raised their price target on Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Securities raised their price objective on Gildan Activewear from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets raised their price target on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.68.

Gildan Activewear Stock Up 0.6 %

Gildan Activewear stock opened at $48.36 on Monday. Gildan Activewear has a twelve month low of $27.61 and a twelve month high of $48.96. The stock has a 50 day moving average of $45.82 and a two-hundred day moving average of $40.48. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.78 and a beta of 1.43.

Institutional Trading of Gildan Activewear

Hedge funds and other institutional investors have recently bought and sold shares of the company. Riverview Trust Co bought a new stake in Gildan Activewear in the third quarter valued at about $29,000. Blue Trust Inc. boosted its position in shares of Gildan Activewear by 96.1% during the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock worth $38,000 after buying an additional 397 shares during the period. Natixis acquired a new position in shares of Gildan Activewear during the first quarter worth approximately $51,000. Cullen Frost Bankers Inc. acquired a new position in shares of Gildan Activewear during the second quarter worth approximately $51,000. Finally, Tobam acquired a new position in shares of Gildan Activewear during the second quarter worth approximately $53,000. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is presently 27.70%.

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.