Q3 2024 EPS Estimates for Gildan Activewear Inc. (NYSE:GIL) Lifted by National Bank Financial

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at National Bank Financial raised their Q3 2024 earnings estimates for shares of Gildan Activewear in a note issued to investors on Tuesday, October 8th. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will post earnings of $0.84 per share for the quarter, up from their prior estimate of $0.83. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.92 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q4 2024 earnings at $0.78 EPS, FY2024 earnings at $2.95 EPS, Q3 2025 earnings at $0.95 EPS and Q4 2025 earnings at $0.86 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 the consensus estimate of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same period in the prior year, the firm earned $0.63 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year.

GIL has been the topic of several other reports. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada upped their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets increased their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four investment 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, the company has an average rating of “Moderate Buy” and a consensus target price of $44.77.

Gildan Activewear Trading Up 2.0 %

Shares of Gildan Activewear stock opened at $47.66 on Friday. 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 company’s 50-day moving average price is $44.58 and its 200-day moving average price is $39.68. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.81 and a beta of 1.43. Gildan Activewear has a 12-month low of $27.24 and a 12-month high of $47.75.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.82 annualized dividend and a yield of 1.72%. Gildan Activewear’s payout ratio is 27.70%.

Institutional Trading of Gildan Activewear

Large investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new stake in shares of Gildan Activewear in the 2nd quarter worth approximately $51,000. Natixis bought a new stake in shares of Gildan Activewear in the 1st quarter worth approximately $51,000. Tobam bought a new stake in shares of Gildan Activewear in the 2nd quarter worth approximately $53,000. CWM LLC boosted its position in shares of Gildan Activewear by 23.0% in the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock worth $80,000 after purchasing an additional 318 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Gildan Activewear by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

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.