What is Stifel Canada’s Forecast for GIL FY2024 Earnings?

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at Stifel Canada boosted their FY2024 earnings per share (EPS) estimates for shares of Gildan Activewear in a note issued to investors on Thursday, October 31st. Stifel Canada analyst M. Landry now expects that the textile maker will earn $2.97 per share for the year, up from their prior estimate of $2.91. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.93 per share. Stifel Canada also issued estimates for Gildan Activewear’s FY2025 earnings at $3.49 EPS and FY2026 earnings at $3.92 EPS.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 25.66%. The firm had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. During the same period last year, the firm posted $0.74 EPS. Gildan Activewear’s quarterly revenue was up 2.4% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on the company. TD Securities upped their target price on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada boosted their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Citigroup boosted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets raised their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Canaccord Genuity Group upped their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.85.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $49.12 on Monday. Gildan Activewear has a fifty-two week low of $30.68 and a fifty-two week high of $50.12. The stock has a market cap of $7.71 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.85 and a beta of 1.44. The firm’s 50-day simple moving average is $46.56 and its 200 day simple moving average is $41.04. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

Institutional Trading of Gildan Activewear

Institutional investors have recently bought and sold shares of the stock. Atria Investments Inc acquired a new stake in shares of Gildan Activewear during the third quarter worth approximately $391,000. Verdence Capital Advisors LLC lifted its stake in shares of Gildan Activewear by 6.7% during the third quarter. Verdence Capital Advisors LLC now owns 16,097 shares of the textile maker’s stock valued at $758,000 after acquiring an additional 1,004 shares during the period. Fiera Capital Corp lifted its holdings in Gildan Activewear by 5.3% in the third quarter. Fiera Capital Corp now owns 255,734 shares of the textile maker’s stock valued at $12,053,000 after buying an additional 12,933 shares during the period. Intact Investment Management Inc. increased its holdings in Gildan Activewear by 12.0% in the third quarter. Intact Investment Management Inc. now owns 987,250 shares of the textile maker’s stock valued at $46,473,000 after purchasing an additional 106,150 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Gildan Activewear by 24.6% during the 3rd quarter. US Bancorp DE now owns 9,359 shares of the textile maker’s stock worth $441,000 after acquiring an additional 1,849 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be given a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 32.41%.

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.