Brokerages Anticipate Gildan Activewear, Inc. (GIL) to Post $0.52 Earnings Per Share
Wall Street brokerages expect Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) to report earnings of $0.52 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued 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 in the same quarter last year, which suggests a positive year over year growth rate of 4%. The firm is expected to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Gildan Activewear will report full-year earnings of $1.69 per share for the current financial year, with EPS estimates ranging from $1.68 to $1.72. For the next financial year, analysts anticipate that the firm will report 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 research analysts that cover Gildan Activewear.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. The business had revenue of $715.40 million for the quarter, compared to analysts’ expectations of $753.85 million. During the same period in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year.
Several brokerages have weighed in on GIL. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, September 26th. Canaccord Genuity set a $32.00 price target on shares of Gildan Activewear and gave the company a “buy” rating in a report on Friday, July 7th. CIBC raised shares of Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada downgraded shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 price target on the stock. in a report on Tuesday, July 11th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $35.14.
Gildan Activewear (GIL) traded up 0.4083% during mid-day trading on Friday, reaching $31.1366. 52,646 shares of the company’s stock traded hands. The company has a market cap of $6.99 billion, a P/E ratio of 18.8478 and a beta of 0.69. The stock has a 50 day moving average of $31.07 and a 200 day moving average of $29.67. Gildan Activewear has a 12-month low of $23.55 and a 12-month high of $31.87.
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A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Gildan Activewear by 18.2% in the second quarter. FMR LLC now owns 12,177,081 shares of the textile maker’s stock worth $374,195,000 after acquiring an additional 1,875,214 shares during the period. Causeway Capital Management LLC lifted its stake in Gildan Activewear by 392.6% in the first quarter. Causeway Capital Management LLC now owns 11,941,097 shares of the textile maker’s stock worth $322,887,000 after acquiring an additional 9,517,241 shares during the period. Janus Henderson Group PLC purchased a new stake in Gildan Activewear in the second quarter worth about $266,358,000. Vanguard Group Inc. lifted its stake in Gildan Activewear by 3.9% in the second quarter. Vanguard Group Inc. now owns 4,927,849 shares of the textile maker’s stock worth $151,433,000 after acquiring an additional 185,026 shares during the period. Finally, TD Asset Management Inc. lifted its stake in Gildan Activewear by 17.6% in the second quarter. TD Asset Management Inc. now owns 4,168,600 shares of the textile maker’s stock worth $127,912,000 after acquiring an additional 623,938 shares during the period. 72.59% of the stock is owned by institutional investors.
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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