Gildan Activewear Inc. (NYSE:GIL) to Issue Quarterly Dividend of $0.15

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.152 per share by the textile maker on Monday, December 16th. This represents a $0.61 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, November 21st.

Gildan Activewear has increased its dividend by an average of 69.1% annually over the last three years. Gildan Activewear has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Gildan Activewear to earn $3.32 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 24.7%.

Gildan Activewear Trading Up 1.5 %

Shares of NYSE GIL traded up $0.73 during trading hours on Friday, hitting $49.63. 35,834 shares of the company traded hands, compared to its average volume of 707,306. The company’s 50 day moving average price is $46.31 and its 200 day moving average price is $40.77. Gildan Activewear has a 12 month low of $28.95 and a 12 month high of $49.72. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, equities research analysts anticipate that Gildan Activewear will post 2.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Securities raised their price objective on shares of Gildan Activewear from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Stifel Nicolaus boosted their price objective on Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada increased their target price on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets boosted their target price on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and an average price target of $45.68.

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.