Gildan Activewear Inc (TSE:GIL) Downgraded by National Bank Financial
National Bank Financial cut shares of Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) from an outperform rating to a sector perform rating in a report issued on Friday morning. They currently have C$41.00 price objective on the stock, up from their prior price objective of C$40.00. National Bank Financial also issued estimates for Gildan Activewear’s Q2 2017 earnings at $0.59 EPS, Q3 2017 earnings at $0.68 EPS, Q4 2017 earnings at $0.36 EPS, FY2017 earnings at $2.11 EPS, Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.73 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $2.29 EPS.
Several other equities analysts have also recently commented on the company. BMO Capital Markets reaffirmed an outperform rating and issued a C$34.00 price target on shares of Gildan Activewear in a report on Friday. Canaccord Genuity cut Gildan Activewear from a buy rating to a hold rating in a report on Thursday, July 13th. Royal Bank Of Canada cut Gildan Activewear from an outperform rating to a sector perform rating and set a C$40.00 price target for the company. in a report on Wednesday, July 12th. CIBC cut Gildan Activewear from an outperform rating to a neutral rating in a report on Wednesday, June 28th. Finally, DA Davidson reaffirmed a neutral rating on shares of Gildan Activewear in a report on Thursday, May 4th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of C$40.08.
Shares of Gildan Activewear (TSE GIL) opened at 37.94 on Friday. The company has a market capitalization of $8.54 billion and a P/E ratio of 24.09. The stock has a 50 day moving average price of $39.40 and a 200-day moving average price of $36.71. Gildan Activewear has a one year low of $30.97 and a one year high of $42.18.
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The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 17th will be issued a $0.0935 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.99%.
In other news, Director Anthony Frank Corsano sold 32,347 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of C$28.48, for a total value of C$921,242.56. Also, Director Michael Hoffman sold 15,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of C$37.93, for a total value of C$568,950.00.
Gildan Activewear Company Profile
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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