Desjardins Predicts Increased Earnings for Gildan Activewear

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Desjardins increased their Q3 2024 EPS estimates for shares of Gildan Activewear in a note issued to investors on Thursday, October 24th. Desjardins analyst C. Li now expects that the textile maker will earn $0.84 per share for the quarter, up from their prior estimate of $0.83. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.93 per share. Desjardins also issued estimates for Gildan Activewear’s FY2024 earnings at $2.97 EPS and FY2025 earnings at $3.40 EPS.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The company had revenue of $862.20 million for the quarter, compared to the consensus estimate of $851.10 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis.

Several other research analysts have also recently commented on GIL. Royal Bank of Canada raised their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. TD Securities raised their price objective on 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 increased their target price on Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, BMO Capital Markets boosted their price target on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $45.68.

Gildan Activewear Price Performance

NYSE:GIL opened at $48.07 on Monday. Gildan Activewear has a 52 week low of $27.24 and a 52 week high of $48.51. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35. The firm’s 50-day simple moving average is $45.82 and its 200 day simple moving average is $40.46. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.78 and a beta of 1.43.

Gildan Activewear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is currently 27.70%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GIL. Riverview Trust Co bought a new position in Gildan Activewear during the third quarter worth $29,000. Blue Trust Inc. lifted its stake in shares of Gildan Activewear by 96.1% in the 3rd quarter. Blue Trust Inc. now owns 810 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 397 shares during the period. Natixis bought a new stake in shares of Gildan Activewear during the 1st quarter valued at about $51,000. Cullen Frost Bankers Inc. acquired a new stake in Gildan Activewear during the second quarter worth approximately $51,000. Finally, Tobam acquired a new stake in Gildan Activewear during the second quarter worth approximately $53,000. Institutional investors own 82.83% of the company’s stock.

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.