Desjardins Predicts Higher Earnings for Gildan Activewear

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Analysts at Desjardins upped their Q3 2024 earnings estimates for Gildan Activewear in a report released on Thursday, October 24th. Desjardins analyst C. Li now anticipates that the textile maker will post earnings of $0.84 per share for the quarter, up from their previous forecast of $0.83. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.93 per share. Desjardins also issued estimates for Gildan Activewear’s FY2024 earnings at $2.97 EPS and FY2025 earnings at $3.40 EPS.

A number of other equities analysts also recently weighed in on GIL. Stifel Nicolaus lifted their target price on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Securities lifted their price objective on Gildan Activewear from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets raised their price target on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.68.

Gildan Activewear Trading Up 0.5 %

Shares of NYSE GIL opened at $48.59 on Monday. Gildan Activewear has a 1 year low of $27.61 and a 1 year high of $48.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The firm has a 50-day moving average of $46.05 and a 200 day moving average of $40.66. The stock has a market cap of $8.05 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.78 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business had revenue of $862.20 million during the quarter, compared to the consensus estimate of $851.10 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in Gildan Activewear in the 3rd quarter worth approximately $29,000. Blue Trust Inc. lifted its holdings in Gildan Activewear by 96.1% in the third quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after acquiring an additional 397 shares during the period. Natixis purchased a new position in Gildan Activewear in the first quarter worth about $51,000. Cullen Frost Bankers Inc. purchased a new position in Gildan Activewear in the second quarter worth about $51,000. Finally, Tobam purchased a new stake in shares of Gildan Activewear during the 2nd quarter valued at about $53,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were paid a $0.205 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.69%. Gildan Activewear’s dividend payout ratio is presently 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.