National Bank Financial Brokers Increase Earnings Estimates for Gildan Activewear Inc. (NYSE:GIL)
Gildan Activewear Inc. (NYSE:GIL – Free Report) (TSE:GIL) – Investment analysts at National Bank Financial boosted their FY2024 earnings per share estimates for shares of Gildan Activewear in a report released on Wednesday, February 21st. National Bank Financial analyst V. Shreedhar now expects that the textile maker will post earnings per share of $2.98 for the year, up from their prior estimate of $2.96. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share. National Bank Financial also issued estimates for Gildan Activewear’s FY2025 earnings at $3.27 EPS.
A number of other research firms also recently issued reports on GIL. CIBC raised their price target on Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada raised their price target on Gildan Activewear from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. BMO Capital Markets dropped their price target on Gildan Activewear from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Scotiabank raised their price target on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus raised their price target on Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.65.
Get Our Latest Stock Analysis on GIL
Gildan Activewear Stock Performance
GIL stock opened at $35.46 on Monday. The company has a market cap of $6.00 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.38. Gildan Activewear has a 1 year low of $26.98 and a 1 year high of $37.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.93. The stock’s fifty day moving average price is $33.12 and its 200-day moving average price is $31.72.
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last posted its earnings results on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $782.70 million during the quarter, compared to analyst estimates of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS.
Gildan Activewear Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 8th. Investors of record on Wednesday, March 13th will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.31%. Gildan Activewear’s payout ratio is 27.06%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Natixis Advisors L.P. boosted its stake in Gildan Activewear by 2.5% in the 3rd quarter. Natixis Advisors L.P. now owns 13,204 shares of the textile maker’s stock worth $370,000 after purchasing an additional 324 shares during the period. Avior Wealth Management LLC boosted its position in shares of Gildan Activewear by 1.5% during the 3rd quarter. Avior Wealth Management LLC now owns 27,704 shares of the textile maker’s stock valued at $776,000 after acquiring an additional 400 shares during the last quarter. Signaturefd LLC boosted its position in shares of Gildan Activewear by 16.0% during the 2nd quarter. Signaturefd LLC now owns 2,946 shares of the textile maker’s stock valued at $95,000 after acquiring an additional 407 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Gildan Activewear by 2.5% during the 2nd quarter. Alliancebernstein L.P. now owns 18,148 shares of the textile maker’s stock valued at $585,000 after acquiring an additional 435 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Gildan Activewear by 86.5% during the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 498 shares during the last quarter. 79.09% of the stock is currently owned by institutional investors.
About Gildan Activewear
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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.
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