Gildan Activewear Inc. (TSE:GIL) Forecasted to Post FY2024 Earnings of $4.11 Per Share

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Equities researchers at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Gildan Activewear in a research report issued to clients and investors on Monday, April 15th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings per share of $4.11 for the year, up from their previous forecast of $4.02. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.01 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q4 2024 earnings at $1.05 EPS, Q1 2025 earnings at $0.77 EPS, Q2 2025 earnings at $1.24 EPS, Q3 2025 earnings at $1.33 EPS, Q4 2025 earnings at $1.16 EPS and FY2025 earnings at $4.51 EPS.

Several other analysts have also issued reports on GIL. Desjardins increased their price objective on Gildan Activewear from C$53.00 to C$55.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Royal Bank of Canada increased their price objective on Gildan Activewear from C$39.00 to C$41.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, National Bankshares increased their price objective 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$47.00.

Gildan Activewear Price Performance

Shares of TSE:GIL opened at C$48.36 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 0.87 and a debt-to-equity ratio of 55.97. Gildan Activewear has a 1 year low of C$36.42 and a 1 year high of C$52.80. The business has a fifty day simple moving average of C$48.10 and a 200 day simple moving average of C$45.43. The firm has a market cap of C$8.16 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 2.70 and a beta of 1.62.

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

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Monday, April 8th were issued a dividend of $0.275 per share. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $1.10 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is 26.70%.

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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.