Gildan Activewear (NYSE:GIL) Issues FY 2024 Earnings Guidance

Gildan Activewear (NYSE:GIL) (TSE:GIL) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.920-3.070 for the period, compared to the consensus estimate of 2.950. The company issued revenue guidance of -. Gildan Activewear also updated its FY24 guidance to $2.92-3.07 EPS.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TD Securities lifted their price target on Gildan Activewear from $42.00 to $46.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Scotiabank boosted their price target on shares of Gildan Activewear from $39.50 to $40.50 and gave the stock a sector outperform rating in a research note on Friday, February 9th. Stifel Nicolaus raised their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the company a hold rating in a research report on Thursday, February 22nd. Stifel Canada lowered shares of Gildan Activewear from a buy rating to a hold rating in a research report on Monday, December 18th. Finally, CIBC raised their price target on Gildan Activewear from $38.00 to $41.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gildan Activewear has a consensus rating of Moderate Buy and an average target price of $41.25.

Gildan Activewear Trading Down 0.7 %

NYSE GIL opened at $35.33 on Tuesday. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $35.36 and a 200-day moving average of $33.43. The firm has a market cap of $5.96 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.38. Gildan Activewear has a 1-year low of $26.98 and a 1-year high of $38.87.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The firm had revenue of $782.70 million for the quarter, compared to analysts’ expectations of $753.35 million. During the same quarter last year, the business earned $0.65 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Gildan Activewear will post 2.94 EPS for the current year.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 2.32%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, March 12th. Gildan Activewear’s dividend payout ratio is 27.06%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in Gildan Activewear by 38.6% in the 1st quarter. American Century Companies Inc. now owns 41,005 shares of the textile maker’s stock worth $1,538,000 after buying an additional 11,413 shares during the period. Citigroup Inc. lifted its stake in Gildan Activewear by 41.5% in the first quarter. Citigroup Inc. now owns 32,700 shares of the textile maker’s stock worth $1,227,000 after acquiring an additional 9,597 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Gildan Activewear by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 896 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in Gildan Activewear by 35.8% in the first quarter. Natixis Advisors L.P. now owns 19,786 shares of the textile maker’s stock valued at $742,000 after acquiring an additional 5,212 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in Gildan Activewear by 29.4% in the 1st quarter. Synovus Financial Corp now owns 33,700 shares of the textile maker’s stock worth $1,268,000 after purchasing an additional 7,662 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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.