Desjardins Boosts Earnings Estimates for Gildan Activewear

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at Desjardins raised their FY2025 earnings estimates for Gildan Activewear in a report released on Thursday, October 30th. Desjardins analyst C. Li now expects that the textile maker will post earnings per share of $3.47 for the year, up from their previous forecast of $3.42. Desjardins has a “Buy” rating and a $95.00 price objective on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $3.48 per share.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, October 29th. The textile maker reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $925.24 million. Gildan Activewear had a net margin of 14.13% and a return on equity of 35.90%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. Gildan Activewear has set its FY 2025 guidance at 3.450-3.510 EPS.

Several other brokerages also recently weighed in on GIL. CIBC raised their target price on Gildan Activewear from $56.00 to $60.00 and gave the company an “outperformer” rating in a research note on Friday, August 1st. TD Securities restated a “buy” rating and set a $74.00 price objective on shares of Gildan Activewear in a research note on Thursday. TD Cowen upped their target price on Gildan Activewear from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Citigroup cut Gildan Activewear from a “buy” rating to a “neutral” rating and increased their target price for the company from $60.00 to $63.00 in a research note on Monday, October 20th. Finally, Royal Bank Of Canada raised their price target on shares of Gildan Activewear from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Gildan Activewear presently has a consensus rating of “Moderate Buy” and an average price target of $72.15.

Gildan Activewear Stock Performance

Gildan Activewear stock opened at $57.97 on Monday. Gildan Activewear has a 12-month low of $37.16 and a 12-month high of $62.56. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.87 and a quick ratio of 1.67. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The firm’s fifty day moving average price is $57.66 and its 200 day moving average price is $52.28.

Institutional Trading of Gildan Activewear

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Gildan Activewear during the 1st quarter valued at about $474,000. Olde Wealth Management LLC acquired a new position in Gildan Activewear in the first quarter valued at approximately $29,000. Envestnet Asset Management Inc. boosted its stake in Gildan Activewear by 24.9% in the first quarter. Envestnet Asset Management Inc. now owns 433,596 shares of the textile maker’s stock valued at $19,174,000 after acquiring an additional 86,464 shares during the period. TD Private Client Wealth LLC grew its holdings in shares of Gildan Activewear by 15.5% during the first quarter. TD Private Client Wealth LLC now owns 3,545 shares of the textile maker’s stock valued at $157,000 after purchasing an additional 476 shares during the last quarter. Finally, Davidson Investment Advisors raised its position in shares of Gildan Activewear by 2.4% during the 1st quarter. Davidson Investment Advisors now owns 448,005 shares of the textile maker’s stock worth $19,811,000 after purchasing an additional 10,691 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be issued a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 19th. Gildan Activewear’s payout ratio is currently 28.75%.

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.