Gildan Activewear (NYSE:GIL) Updates Q3 2019 Earnings Guidance

Gildan Activewear (NYSE:GIL) (TSE:GIL) updated its third quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $0.53-0.53 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.57. The company issued revenue guidance of $740-740 million, compared to the consensus revenue estimate of $790.69 million.Gildan Activewear also updated its FY 2019 guidance to $1.65-1.70 EPS.

A number of research firms have recently weighed in on GIL. Citigroup lifted their target price on Gildan Activewear from $37.00 to $40.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Zacks Investment Research downgraded Gildan Activewear from a buy rating to a hold rating in a report on Thursday, October 3rd. TD Securities dropped their target price on Gildan Activewear from $45.00 to $44.00 and set a buy rating for the company in a report on Thursday. ValuEngine downgraded Gildan Activewear from a buy rating to a hold rating in a report on Tuesday, August 6th. Finally, Desjardins raised Gildan Activewear from a hold rating to a buy rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $34.50.

GIL stock traded down $0.02 during midday trading on Thursday, reaching $35.26. The company had a trading volume of 224,866 shares, compared to its average volume of 473,123. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.18 and a beta of 0.85. The stock has a 50 day moving average price of $35.94 and a 200-day moving average price of $37.25. Gildan Activewear has a 1-year low of $28.81 and a 1-year high of $40.40. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.33 and a quick ratio of 1.68.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $801.60 million during the quarter, compared to the consensus estimate of $793.91 million. Gildan Activewear had a return on equity of 18.48% and a net margin of 10.14%. Gildan Activewear’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, research analysts anticipate that Gildan Activewear will post 1.98 earnings per share for the current year.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

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Earnings History and Estimates for Gildan Activewear (NYSE:GIL)

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