Gildan Activewear (NYSE:GIL) Releases FY 2024 Earnings Guidance

Gildan Activewear (NYSE:GIL) (TSE:GIL) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.970-3.020 for the period, compared to the consensus earnings per share estimate of 2.970. The company issued revenue guidance of -. Gildan Activewear also updated its FY24 guidance to $2.97-3.02 EPS.

Gildan Activewear Price Performance

Shares of NYSE GIL traded up $0.76 during midday trading on Friday, reaching $49.66. The company’s stock had a trading volume of 531,424 shares, compared to its average volume of 709,643. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43. Gildan Activewear has a one year low of $28.95 and a one year high of $49.92. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $46.45 and a 200 day moving average price of $40.87.

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

Gildan Activewear Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be given a $0.152 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.22%. Gildan Activewear’s dividend payout ratio (DPR) is 33.61%.

Analyst Ratings Changes

GIL has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Citigroup boosted their price target on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday. CIBC raised their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday. TD Securities boosted their target price on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday. Finally, Canaccord Genuity Group increased their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

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.