Q2 2024 EPS Estimates for Gildan Activewear Inc. Lowered by Analyst (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at Desjardins dropped their Q2 2024 earnings estimates for shares of Gildan Activewear in a note issued to investors on Thursday, May 2nd. Desjardins analyst C. Li now anticipates that the textile maker will post earnings per share of $0.70 for the quarter, down from their previous estimate of $0.76. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share. Desjardins also issued estimates for Gildan Activewear’s Q3 2024 earnings at $0.82 EPS and Q4 2024 earnings at $0.79 EPS.

Several other brokerages also recently weighed in on GIL. Stifel Nicolaus increased their price target on Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, February 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. 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. Canaccord Genuity Group raised their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Canaccord Genuity Group boosted their target price on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.95.

Gildan Activewear Trading Down 0.1 %

NYSE:GIL opened at $33.07 on Monday. 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 0.92 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $35.47 and its 200-day simple moving average is $34.08. The firm has a market cap of $5.58 billion, a P/E ratio of 11.17, a PEG ratio of 1.25 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released 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 firm had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business’s 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.

Institutional Investors Weigh In On Gildan Activewear

Several institutional investors and hedge funds have recently made changes to their positions in GIL. Byrne Asset Management LLC purchased a new stake in shares of Gildan Activewear in the 3rd quarter worth about $34,000. CWM LLC boosted its position in shares of Gildan Activewear by 86.5% in the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after buying an additional 498 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Gildan Activewear by 120.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock worth $46,000 after buying an additional 900 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Gildan Activewear by 529.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock worth $73,000 after buying an additional 1,863 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Gildan Activewear in the 1st quarter valued at about $84,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 2.48%. Gildan Activewear’s payout ratio is 27.70%.

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.