Gildan Activewear Inc. Forecasted to Earn FY2024 Earnings of $2.98 Per Share (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GILFree Report) (TSE:GIL) – Investment analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for Gildan Activewear in a research report issued to clients and investors on Wednesday, February 21st. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will earn $2.98 per share for the year, up from their prior estimate of $2.96. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share. National Bank Financial also issued estimates for Gildan Activewear’s FY2025 earnings at $3.27 EPS.

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) last announced its earnings results on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The business had revenue of $782.70 million during the quarter, compared to analysts’ expectations of $753.35 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year.

Several other research firms have also recently commented on GIL. CIBC increased their price target on Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. StockNews.com raised Gildan Activewear from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Stifel Nicolaus increased their price target on Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, February 22nd. Stifel Canada cut Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Finally, TD Securities raised their target price on Gildan Activewear from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $40.65.

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Gildan Activewear Price Performance

Shares of Gildan Activewear stock opened at $34.91 on Monday. Gildan Activewear has a 12 month low of $26.98 and a 12 month high of $37.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.83. The stock has a market capitalization of $5.91 billion, a P/E ratio of 11.52, a PEG ratio of 1.34 and a beta of 1.38. The business has a 50 day simple moving average of $33.14 and a two-hundred day simple moving average of $31.75.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th will be given a dividend of $0.205 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $0.82 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is currently 24.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in Gildan Activewear by 38.6% in the first quarter. American Century Companies Inc. now owns 41,005 shares of the textile maker’s stock valued at $1,538,000 after buying an additional 11,413 shares in the last quarter. Citigroup Inc. raised its stake in Gildan Activewear by 41.5% in the first quarter. Citigroup Inc. now owns 32,700 shares of the textile maker’s stock valued at $1,227,000 after buying an additional 9,597 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Gildan Activewear by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock valued at $127,000 after buying an additional 896 shares in the last quarter. Natixis Advisors L.P. raised its stake in Gildan Activewear by 35.8% in the first quarter. Natixis Advisors L.P. now owns 19,786 shares of the textile maker’s stock valued at $742,000 after buying an additional 5,212 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in Gildan Activewear by 29.4% in the first quarter. Synovus Financial Corp now owns 33,700 shares of the textile maker’s stock valued at $1,268,000 after buying an additional 7,662 shares in the last quarter. 79.09% of the stock is currently owned by hedge funds and other institutional investors.

About Gildan Activewear

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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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

Further Reading

Earnings History and Estimates for Gildan Activewear (NYSE:GIL)

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