Stifel Canada Predicts Higher Earnings for Gildan Activewear

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Stifel Canada boosted their FY2024 earnings estimates for shares of Gildan Activewear in a research note issued to investors on Thursday, October 31st. Stifel Canada analyst M. Landry now forecasts that the company will post earnings of $4.10 per share for the year, up from their prior forecast of $4.04. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.55 per share. Stifel Canada also issued estimates for Gildan Activewear’s FY2025 earnings at $4.82 EPS.

Other equities analysts have also recently issued reports about the stock. TD Securities lifted 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 note on Friday, August 2nd. Desjardins boosted their price objective on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Citigroup boosted their price objective on shares of Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets upgraded shares of Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. Finally, National Bankshares boosted their price target on shares of Gildan Activewear from C$68.00 to C$74.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One 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. According to MarketBeat, Gildan Activewear presently has a consensus rating of “Buy” and a consensus price target of C$57.20.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at C$69.50 on Monday. The company’s 50-day moving average price is C$63.54 and its 200-day moving average price is C$55.80. Gildan Activewear has a twelve month low of C$41.32 and a twelve month high of C$69.78. 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 company has a market cap of C$11.30 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64.

Insider Buying and Selling

In related news, Senior Officer Benito Masi sold 50,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. In other news, Senior Officer Rhodri Harries sold 32,500 shares of the firm’s stock in a transaction that occurred 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. Also, Senior Officer Benito Masi sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total transaction of C$2,077,495.00. Over the last three months, insiders have sold 101,620 shares of company stock valued at $4,870,471. Corporate insiders own 2.26% of the company’s stock.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis 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.