DA Davidson Analysts Cut Earnings Estimates for Gildan Activewear Inc. (GIL)
Gildan Activewear Inc. (NYSE:GIL) – Equities researchers at DA Davidson lowered their FY2017 earnings per share estimates for shares of Gildan Activewear in a research report issued on Wednesday. DA Davidson analyst A. Burns now forecasts that the firm will post earnings of $1.76 per share for the year, down from their prior estimate of $1.78.
GIL has been the topic of several other reports. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Thursday, July 21st. Scotiabank restated an “outperform” rating and set a $44.00 price target on shares of Gildan Activewear in a report on Thursday, July 28th. TD Securities restated a “buy” rating and set a $36.00 price target on shares of Gildan Activewear in a report on Thursday, July 28th. RBC Capital Markets restated an “outperform” rating and set a $44.50 price target on shares of Gildan Activewear in a report on Monday. Finally, Raymond James Financial Inc. restated a “strong-buy” rating and set a $35.00 price target on shares of Gildan Activewear in a report on Thursday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.68.
Shares of Gildan Activewear (NYSE:GIL) traded down 0.07% during mid-day trading on Monday, hitting $27.14. The stock had a trading volume of 107,312 shares. Gildan Activewear has a 52 week low of $22.43 and a 52 week high of $32.20. The stock has a 50-day moving average price of $28.19 and a 200 day moving average price of $29.47. The stock has a market cap of $6.29 billion, a P/E ratio of 18.89 and a beta of 0.98.
Gildan Activewear (NYSE:GIL) last announced its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.01. The business had revenue of $689 million for the quarter, compared to analyst estimates of $697.92 million. Gildan Activewear had a net margin of 13.94% and a return on equity of 17.19%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share.
A number of institutional investors have recently made changes to their positions in the stock. AGF Investments Inc. raised its position in shares of Gildan Activewear by 121.1% in the second quarter. AGF Investments Inc. now owns 6,414 shares of the company’s stock valued at $188,000 after buying an additional 3,513 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Gildan Activewear during the second quarter valued at $211,000. Cipher Capital LP bought a new stake in shares of Gildan Activewear during the second quarter valued at about $244,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Gildan Activewear during the first quarter valued at about $263,000. Finally, Quantitative Investment Management LLC bought a new stake in shares of Gildan Activewear during the second quarter valued at about $284,000. Institutional investors and hedge funds own 72.64% of the company’s stock.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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