Analysts expect Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) to post earnings per share of $0.52 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Gildan Activewear’s earnings. The highest EPS estimate is $0.53 and the lowest is $0.50. Gildan Activewear reported earnings of $0.50 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The firm is scheduled to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Gildan Activewear will report full year earnings of $1.69 per share for the current year, with EPS estimates ranging from $1.68 to $1.72. For the next year, analysts anticipate that the company will post earnings of $1.89 per share, with EPS estimates ranging from $1.85 to $1.93. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Gildan Activewear.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $715.40 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share.
A number of analysts recently commented on the stock. TD Securities cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and lifted their target price for the stock from $32.00 to $33.00 in a research note on Friday, August 4th. National Bank Financial cut shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 4th. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 target price (up from $32.00) on shares of Gildan Activewear in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, August 2nd. Finally, Canaccord Genuity cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research note on Wednesday, July 12th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Gildan Activewear presently has an average rating of “Hold” and a consensus price target of $35.14.
A number of hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its stake 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 valued at $101,000 after buying an additional 725 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Gildan Activewear by 9.7% in the second quarter. Commonwealth Bank of Australia now owns 3,414 shares of the textile maker’s stock valued at $103,000 after buying an additional 303 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake 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 valued at $106,000 after buying an additional 1,988 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake 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 valued at $107,000 after buying an additional 1,198 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake 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 valued at $110,000 after buying an additional 893 shares during the last quarter. Institutional investors and hedge funds own 75.67% of the company’s stock.
Gildan Activewear (GIL) opened at 30.13 on Monday. The company has a market cap of $6.76 billion, a P/E ratio of 18.24 and a beta of 0.72. The company’s 50-day moving average is $30.46 and its 200-day moving average is $27.98. Gildan Activewear has a 12 month low of $23.55 and a 12 month high of $31.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.094 per share. This represents a $0.38 annualized dividend and a yield of 1.25%. The ex-dividend date is Tuesday, August 15th. Gildan Activewear’s payout ratio is 22.42%.
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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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