GIL FY2024 EPS Increased by National Bank Financial

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Investment analysts at National Bank Financial lifted their FY2024 earnings per share estimates for shares of Gildan Activewear in a research report issued on Thursday, October 31st. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will post earnings per share of $2.99 for the year, up from their previous forecast of $2.95. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.93 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q4 2024 earnings at $0.80 EPS, Q1 2025 earnings at $0.63 EPS, Q3 2025 earnings at $1.02 EPS, Q4 2025 earnings at $0.88 EPS, FY2025 earnings at $3.43 EPS and FY2026 earnings at $3.88 EPS.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. Gildan Activewear had a return on equity of 25.66% and a net margin of 13.06%. The firm had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada upped 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. CIBC increased their price objective on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus lifted their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. Canaccord Genuity Group increased their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. Finally, Citigroup raised their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Four 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 a consensus rating of “Moderate Buy” and an average price target of $50.85.

Gildan Activewear Stock Performance

GIL opened at $49.66 on Monday. Gildan Activewear has a 1-year low of $28.95 and a 1-year high of $49.92. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.85 and a beta of 1.44. The company’s fifty day moving average price is $46.45 and its two-hundred day moving average price is $40.94. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s payout ratio is 32.41%.

Hedge Funds Weigh In On Gildan Activewear

Several institutional investors have recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC raised its position in Gildan Activewear by 3.9% in the third quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after acquiring an additional 246 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Gildan Activewear by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the textile maker’s stock worth $66,000 after purchasing an additional 274 shares during the period. Aristides Capital LLC lifted its stake in Gildan Activewear by 4.3% in the second quarter. Aristides Capital LLC now owns 7,617 shares of the textile maker’s stock valued at $289,000 after purchasing an additional 314 shares during the last quarter. CWM LLC lifted its stake in Gildan Activewear by 23.0% in the third quarter. CWM LLC now owns 1,698 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 318 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Gildan Activewear by 96.1% during the third 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. 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.