FY2024 EPS Estimates for Gildan Activewear Inc. Cut by National Bank Financial (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of Gildan Activewear in a report released on Tuesday, October 8th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings per share of $4.01 for the year, down from their prior forecast of $4.06. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.55 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $1.25 EPS, Q3 2025 earnings at $1.29 EPS and FY2025 earnings at $4.53 EPS.

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

GIL has been the subject of a number of other research reports. BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. Desjardins boosted their target price on Gildan Activewear from C$63.00 to C$67.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Citigroup boosted their target price 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 upped their price target on Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, National Bankshares boosted their target price on Gildan Activewear from C$58.00 to C$68.00 in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$56.00.

Gildan Activewear Trading Up 2.2 %

TSE:GIL opened at C$65.55 on Friday. Gildan Activewear has a 12-month low of C$37.78 and a 12-month high of C$65.67. The firm has a market capitalization of C$10.66 billion, a P/E ratio of 20.05, a P/E/G ratio of 4.55 and a beta of 1.64. The company has a debt-to-equity ratio of 72.52, a current ratio of 2.35 and a quick ratio of 0.87. The business has a 50 day simple moving average of C$60.22 and a 200 day simple moving average of C$53.79.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a yield of 1.71%. Gildan Activewear’s dividend payout ratio is 33.94%.

Insider Buying and Selling

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 32,500 shares of the stock in a transaction 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 related news, Senior Officer Jason De Haan sold 19,105 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$42.05, for a total transaction of C$803,365.25. Also, Senior Officer Rhodri Harries sold 32,500 shares of Gildan Activewear stock in a transaction dated 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. Insiders own 2.26% of the company’s stock.

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.