Gildan Activewear (NYSE:GIL) Issues Earnings Results

Gildan Activewear (NYSE:GIL) (TSE:GIL) announced its quarterly earnings results on Wednesday. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07, Briefing.com reports. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The company had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. During the same period in the prior year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Gildan Activewear updated its FY24 guidance to $2.92-3.07 EPS.

Gildan Activewear Trading Down 1.3 %

GIL stock traded down $0.43 during midday trading on Friday, hitting $33.10. The stock had a trading volume of 434,778 shares, compared to its average volume of 724,448. The company has a current ratio of 2.38, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $35.51 and a two-hundred day moving average price of $33.99. Gildan Activewear has a 1-year low of $26.98 and a 1-year high of $38.87. The firm has a market cap of $5.58 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.38.

Gildan Activewear Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is presently 27.36%.

Analysts Set New Price Targets

Several analysts have commented on GIL shares. UBS Group downgraded shares of Gildan Activewear from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $37.00 in a report on Friday, January 5th. TD Securities boosted their price objective on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Scotiabank increased their target price on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. Canaccord Genuity Group lifted their price target on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Finally, CIBC upped their price objective on Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.95.

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.