Desjardins Has Optimistic Outlook of TSE:GIL FY2024 Earnings

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Investment analysts at Desjardins lifted their FY2024 earnings per share estimates for Gildan Activewear in a report released on Thursday, October 31st. Desjardins analyst C. Li now anticipates that the company will earn $4.11 per share for the year, up from their prior estimate of $4.10. Desjardins has a “Buy” rating and a $67.00 price target 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.

A number of other research analysts also recently commented on GIL. National Bankshares increased their target price on Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup increased their price target on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. TD Securities increased 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. Finally, BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$57.20.

Gildan Activewear Trading Down 1.5 %

TSE:GIL opened at C$68.25 on Monday. The company has a quick ratio of 0.87, a current ratio of 2.35 and a debt-to-equity ratio of 72.52. The business’s 50 day moving average is C$63.31 and its two-hundred day moving average is C$55.67. Gildan Activewear has a 52 week low of C$41.32 and a 52 week high of C$69.66. The company has a market cap of C$11.10 billion, a PE ratio of 20.87, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s dividend payout ratio is currently 33.94%.

Insider Activity at Gildan Activewear

In related news, Senior Officer Rhodri Harries sold 32,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$61.20, for a total value of C$1,989,000.00. In other news, Director Michener Chandlee purchased 1,196 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of C$40.85 per share, for a total transaction of C$48,856.60. Also, Senior Officer Rhodri Harries sold 32,500 shares of Gildan Activewear stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total value of C$1,989,000.00. Insiders have sold a total of 101,620 shares of company stock worth $4,870,471 in the last three months. 2.26% of the stock is owned by company insiders.

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.