$861.45 Million in Sales Expected for Gildan Activewear Inc. (NYSE:GIL) This Quarter

Wall Street brokerages predict that Gildan Activewear Inc. (NYSE:GIL – Get Rating) (TSE:GIL) will report sales of $861.45 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Gildan Activewear’s earnings. The highest sales estimate is $885.90 million and the lowest is $837.00 million. Gildan Activewear posted sales of $747.20 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.3%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Gildan Activewear will report full year sales of $3.28 billion for the current fiscal year, with estimates ranging from $3.23 billion to $3.30 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.36 billion, with estimates ranging from $3.32 billion to $3.41 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Gildan Activewear.

Gildan Activewear (NYSE:GIL – Get Rating) (TSE:GIL) last announced its earnings results on Wednesday, May 4th. The textile maker reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.27. The business had revenue of $774.90 million during the quarter, compared to the consensus estimate of $666.81 million. Gildan Activewear had a return on equity of 31.46% and a net margin of 21.07%. During the same period in the prior year, the company posted $0.48 EPS. The business’s quarterly revenue was up 31.4% on a year-over-year basis.

Several brokerages have issued reports on GIL. Zacks Investment Research cut Gildan Activewear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 26th. TD Securities increased their price target on Gildan Activewear from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, February 24th. Canaccord Genuity Group lowered their target price on Gildan Activewear from $52.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, May 5th. National Bank Financial lowered their target price on Gildan Activewear from C$65.00 to C$64.00 in a report on Wednesday, March 30th. Finally, Royal Bank of Canada increased their price target on Gildan Activewear from $51.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, May 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Gildan Activewear currently has an average rating of “Buy” and a consensus target price of $49.82.

Several institutional investors have recently made changes to their positions in GIL. Amundi Pioneer Asset Management Inc. grew its holdings in Gildan Activewear by 16.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 84,910 shares of the textile maker’s stock worth $3,055,000 after buying an additional 12,174 shares in the last quarter. American Century Companies Inc. grew its position in Gildan Activewear by 55.6% during the third quarter. American Century Companies Inc. now owns 27,091 shares of the textile maker’s stock worth $990,000 after buying an additional 9,683 shares in the last quarter. Geode Capital Management LLC grew its position in Gildan Activewear by 15.4% during the third quarter. Geode Capital Management LLC now owns 508,915 shares of the textile maker’s stock worth $18,501,000 after buying an additional 67,883 shares in the last quarter. Credit Suisse AG lifted its stake in Gildan Activewear by 1.4% during the third quarter. Credit Suisse AG now owns 238,044 shares of the textile maker’s stock worth $8,691,000 after purchasing an additional 3,171 shares during the period. Finally, Schroder Investment Management Group lifted its stake in Gildan Activewear by 18.6% during the third quarter. Schroder Investment Management Group now owns 47,406 shares of the textile maker’s stock worth $2,194,000 after purchasing an additional 7,446 shares during the period. Institutional investors and hedge funds own 75.31% of the company’s stock.

NYSE GIL opened at $32.11 on Friday. The business has a fifty day moving average price of $33.81 and a 200 day moving average price of $37.86. Gildan Activewear has a one year low of $28.86 and a one year high of $43.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 3.33. The company has a market cap of $6.00 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.18 and a beta of 1.44.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Investors of record on Thursday, May 26th will be issued a $0.169 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, May 25th. Gildan Activewear’s dividend payout ratio is currently 20.30%.

Gildan Activewear Company Profile (Get Rating)

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.

Further Reading

• Get a free copy of the StockNews.com research report on Gildan Activewear (GIL)
• Hormel Foods Sends A Message To The Market 
• JFrog Stock is Ready to Leap
• PVH Corp. Looks Sharp For A Major Reversal 
• The Analysts Reel In Their Targets For NetApp
• 3 Regional Banks Investors Can Bank On

Get a free copy of the Zacks research report on Gildan Activewear (GIL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?