Gildan Activewear (TSE:GIL) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$85.07 and traded as low as C$77.76. Gildan Activewear shares last traded at C$77.78, with a volume of 488,307 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Desjardins increased their price objective on Gildan Activewear from C$95.00 to C$108.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. TD Securities upped their target price on shares of Gildan Activewear from C$77.00 to C$80.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$85.75.

Gildan Activewear Price Performance

The firm has a 50-day simple moving average of C$88.49 and a 200-day simple moving average of C$85.01. The firm has a market capitalization of C$14.03 billion, a PE ratio of 29.02, a PEG ratio of 4.55 and a beta of 1.39. The company has a debt-to-equity ratio of 137.08, a current ratio of 2.11 and a quick ratio of 0.87.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results on Thursday, February 26th. The company reported C$1.31 earnings per share for the quarter. The business had revenue of C$1.41 billion for the quarter. Gildan Activewear had a net margin of 11.00% and a return on equity of 20.25%. As a group, equities analysts forecast that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Monday, April 13th will be issued a $0.249 dividend. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $1.00 annualized dividend and a yield of 1.3%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.23. Gildan Activewear’s payout ratio is currently 34.64%.

About Gildan Activewear

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.