Gildan Activewear, Inc. (NYSE:GIL) Earns Buy Rating from BMO Capital Markets
BMO Capital Markets restated their buy rating on shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) in a research report sent to investors on Friday. They currently have a $34.00 price objective on the textile maker’s stock, up from their previous price objective of $32.00.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Gildan Activewear from a hold rating to a buy rating and set a $31.00 price target for the company in a research report on Thursday, April 27th. Royal Bank Of Canada increased their price target on shares of Gildan Activewear from $29.00 to $30.00 and gave the company an outperform rating in a research report on Monday, April 24th. TD Securities increased their price target on shares of Gildan Activewear from $31.00 to $32.00 and gave the company a buy rating in a research report on Thursday, May 4th. Finally, TheStreet lowered shares of Gildan Activewear from a b- rating to a c rating in a research report on Wednesday, May 3rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $35.14.
Shares of Gildan Activewear (GIL) traded up 0.850% during mid-day trading on Friday, hitting $30.245. 261,952 shares of the company traded hands. Gildan Activewear has a one year low of $23.55 and a one year high of $31.83. The firm has a 50-day moving average of $30.59 and a 200-day moving average of $27.74. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 19.203 and a beta of 0.72.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, August 3rd. The textile maker reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The company had revenue of $715.40 million during the quarter, compared to the consensus estimate of $753.85 million. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities analysts predict that Gildan Activewear will post $1.70 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.094 per share. The ex-dividend date is Tuesday, August 15th. This represents a $0.38 dividend on an annualized basis and a yield of 1.25%. Gildan Activewear’s dividend payout ratio is presently 22.42%.
A number of institutional investors have recently modified their holdings of the company. US Bancorp DE raised its position in shares of Gildan Activewear by 24.2% in the first quarter. US Bancorp DE now owns 3,718 shares of the textile maker’s stock worth $101,000 after buying an additional 725 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Gildan Activewear by 133.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,475 shares of the textile maker’s stock worth $106,000 after buying an additional 1,988 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Gildan Activewear by 43.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,968 shares of the textile maker’s stock worth $107,000 after buying an additional 1,198 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Gildan Activewear by 33.1% in the second quarter. Global X Management Co. LLC now owns 3,591 shares of the textile maker’s stock worth $110,000 after buying an additional 893 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in shares of Gildan Activewear during the second quarter worth $209,000. Hedge funds and other institutional investors own 77.19% of the company’s stock.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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