Q1 2024 EPS Estimates for Gildan Activewear Inc. Raised by National Bank Financial (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Investment analysts at National Bank Financial increased their Q1 2024 EPS estimates for shares of Gildan Activewear in a research report issued to clients and investors on Monday, April 15th. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will post earnings per share of $0.54 for the quarter, up from their previous estimate of $0.53. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $782.70 million for the quarter, compared to analyst estimates of $753.35 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS.

Other equities research analysts have also recently issued reports about the stock. Citigroup raised their target price on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Scotiabank lifted their price target on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. Stifel Nicolaus lifted their price target 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. UBS Group cut shares of Gildan Activewear from a “buy” rating to a “neutral” rating and lowered their price target for the company from $40.00 to $37.00 in a research report on Friday, January 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $41.00 price target on shares of Gildan Activewear in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and an average target price of $41.25.

Gildan Activewear Trading Down 0.2 %

NYSE:GIL opened at $35.13 on Thursday. The company has a 50-day moving average price of $35.46 and a 200-day moving average price of $33.51. Gildan Activewear has a 12 month low of $26.98 and a 12 month high of $38.87. 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 market cap of $5.92 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.36 and a beta of 1.38.

Institutional Trading of Gildan Activewear

Several large investors have recently added to or reduced their stakes in the business. Natixis Advisors L.P. grew its position in Gildan Activewear by 2.5% during the third quarter. Natixis Advisors L.P. now owns 13,204 shares of the textile maker’s stock valued at $370,000 after buying an additional 324 shares during the period. Avior Wealth Management LLC lifted its holdings in Gildan Activewear by 1.5% during the third quarter. Avior Wealth Management LLC now owns 27,704 shares of the textile maker’s stock valued at $776,000 after purchasing an additional 400 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Gildan Activewear by 2.5% during the second quarter. Alliancebernstein L.P. now owns 18,148 shares of the textile maker’s stock valued at $585,000 after purchasing an additional 435 shares in the last quarter. CWM LLC lifted its holdings in Gildan Activewear by 86.5% during the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 498 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Gildan Activewear by 2.2% during the second quarter. Sei Investments Co. now owns 29,049 shares of the textile maker’s stock valued at $937,000 after purchasing an additional 637 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.33%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, March 12th. Gildan Activewear’s payout ratio is 27.06%.

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.