Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) declared a quarterly dividend on Thursday, November 2nd, NASDAQ reports. Shareholders of record on Thursday, November 16th will be given a dividend of 0.094 per share by the textile maker on Monday, December 11th. This represents a $0.38 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, November 15th.
Gildan Activewear has raised its dividend by an average of 20.1% annually over the last three years and has raised its dividend every year for the last 4 years. Gildan Activewear has a dividend payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Gildan Activewear to earn $1.89 per share next year, which means the company should continue to be able to cover its $0.37 annual dividend with an expected future payout ratio of 19.6%.
Shares of Gildan Activewear (GIL) opened at $30.17 on Tuesday. Gildan Activewear has a one year low of $23.55 and a one year high of $32.15. The company has a current ratio of 5.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. The company has a market cap of $6,635.11, a price-to-earnings ratio of 17.48, a PEG ratio of 1.31 and a beta of 0.74.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, November 2nd. The textile maker reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.80%. The business had revenue of $716.40 million during the quarter, compared to the consensus estimate of $748.86 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. research analysts predict that Gildan Activewear will post 1.71 EPS for the current fiscal year.
Gildan Activewear announced that its board has approved a stock buyback program on Thursday, November 2nd that authorizes the company to buyback 4,600,000 shares. This buyback authorization authorizes the textile maker to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
GIL has been the subject of several research reports. BMO Capital Markets reiterated a “buy” rating and set a $34.00 price objective on shares of Gildan Activewear in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, August 29th. Finally, Macquarie initiated coverage on shares of Gildan Activewear in a research note on Wednesday, November 1st. They set a “neutral” rating for the company. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Gildan Activewear currently has an average rating of “Hold” and a consensus target price of $32.20.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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