Gildan Activewear Inc. to Post Q1 2024 Earnings of $0.54 Per Share, National Bank Financial Forecasts (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities research analysts at National Bank Financial upped their Q1 2024 earnings per share (EPS) estimates for shares of Gildan Activewear in a report issued on Monday, April 15th. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will earn $0.54 per share for the quarter, up from their prior forecast of $0.53. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. Citigroup increased their price target on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Stifel Nicolaus upped their price objective on Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, February 22nd. CIBC boosted their price target on Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Scotiabank raised their price objective on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a research note on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

Gildan Activewear Stock Up 0.2 %

Shares of NYSE GIL opened at $35.21 on Thursday. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.33 and a beta of 1.38. Gildan Activewear has a 1 year low of $26.98 and a 1 year high of $38.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. The stock’s 50-day simple moving average is $35.48 and its 200-day simple moving average is $33.57.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The business had revenue of $782.70 million during the quarter, compared to analyst estimates of $753.35 million. During the same period last year, the business earned $0.65 EPS. The business’s revenue was up 8.7% on a year-over-year basis.

Institutional Investors Weigh In On Gildan Activewear

Large investors have recently made changes to their positions in the company. Natixis Advisors L.P. raised its stake in shares of Gildan Activewear by 2.5% during the third quarter. Natixis Advisors L.P. now owns 13,204 shares of the textile maker’s stock valued at $370,000 after purchasing an additional 324 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Gildan Activewear by 1.5% in the third quarter. Avior Wealth Management LLC now owns 27,704 shares of the textile maker’s stock valued at $776,000 after buying an additional 400 shares during the period. Alliancebernstein L.P. boosted its stake in Gildan Activewear by 2.5% during the second quarter. Alliancebernstein L.P. now owns 18,148 shares of the textile maker’s stock valued at $585,000 after buying an additional 435 shares in the last quarter. CWM LLC raised its position in Gildan Activewear by 86.5% in the fourth quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock worth $35,000 after acquiring an additional 498 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Gildan Activewear by 2.2% in the 2nd quarter. Sei Investments Co. now owns 29,049 shares of the textile maker’s stock valued at $937,000 after acquiring an additional 637 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Tuesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.19. Gildan Activewear’s dividend payout ratio (DPR) is 27.06%.

About Gildan Activewear

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.