Desjardins Weighs in on Gildan Activewear Inc.’s Q2 2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Equities researchers at Desjardins reduced their Q2 2024 earnings per share (EPS) estimates for Gildan Activewear in a note issued to investors on Thursday, May 2nd. Desjardins analyst C. Li now anticipates that the company will earn $0.96 per share for the quarter, down from their previous estimate of $1.03. Desjardins has a “Buy” rating and a $55.00 price objective on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.01 per share. Desjardins also issued estimates for Gildan Activewear’s Q3 2024 earnings at $1.12 EPS and Q4 2024 earnings at $1.08 EPS.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Gildan Activewear from C$39.00 to C$41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. National Bankshares lifted their price target on Gildan Activewear from C$52.00 to C$58.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$47.00.

Gildan Activewear Stock Performance

Shares of Gildan Activewear stock opened at C$44.79 on Monday. The company has a market cap of C$7.55 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.62. The business has a 50 day moving average price of C$48.24 and a 200-day moving average price of C$46.25. Gildan Activewear has a 52 week low of C$36.42 and a 52 week high of C$52.80. The company has a quick ratio of 0.87, a current ratio of 2.33 and a debt-to-equity ratio of 55.97.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its quarterly earnings results on Wednesday, February 21st. The company reported C$1.02 EPS for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 27.79%. The business had revenue of C$1.07 billion during the quarter, compared to analyst estimates of C$1.02 billion.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.277 per share. This represents a $1.11 annualized dividend and a yield of 2.47%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is 26.70%.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.