Gildan Activewear Inc. (NYSE:GIL) Expected to Earn FY2024 Earnings of $2.98 Per Share

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at National Bank Financial cut their FY2024 earnings estimates for Gildan Activewear in a report released on Wednesday, May 1st. National Bank Financial analyst V. Shreedhar now expects that the textile maker will post earnings per share of $2.98 for the year, down from their previous forecast of $2.99. 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 Q1 2025 earnings at $0.54 EPS.

A number of other research firms have also recently issued reports on GIL. TD Securities raised their price target on shares of Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Stifel Nicolaus raised their target price on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, February 22nd. Scotiabank raised their target price on shares of Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. 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 report on Friday, February 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus target price of $41.95.

Gildan Activewear Trading Down 1.3 %

NYSE GIL opened at $33.10 on Monday. The company has a fifty day simple moving average of $35.51 and a two-hundred day simple moving average of $34.05. The stock has a market cap of $5.58 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.25 and a beta of 1.38. 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 2.38, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $695.80 million during the quarter, compared to analysts’ expectations of $692.94 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share.

Gildan Activewear Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.82 annualized dividend and a yield of 2.48%. Gildan Activewear’s dividend payout ratio is presently 27.36%.

Institutional Trading of Gildan Activewear

Several institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC grew its position in shares of Gildan Activewear by 1.6% in the third quarter. Pzena Investment Management LLC now owns 10,996,538 shares of the textile maker’s stock valued at $308,013,000 after purchasing an additional 168,601 shares during the period. Cooke & Bieler LP grew its position in shares of Gildan Activewear by 1.7% in the fourth quarter. Cooke & Bieler LP now owns 10,075,062 shares of the textile maker’s stock valued at $333,082,000 after purchasing an additional 169,476 shares during the period. Browning West LP grew its position in shares of Gildan Activewear by 30.0% in the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after purchasing an additional 1,994,900 shares during the period. Vanguard Group Inc. grew its position in shares of Gildan Activewear by 1.6% in the third quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock valued at $179,293,000 after purchasing an additional 97,924 shares during the period. Finally, Guardian Capital LP grew its position in shares of Gildan Activewear by 3.2% in the third quarter. Guardian Capital LP now owns 2,739,070 shares of the textile maker’s stock valued at $77,128,000 after purchasing an additional 84,744 shares during the period. Institutional investors and hedge funds 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.