Desjardins Expects Increased Earnings for Gildan Activewear

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Investment analysts at Desjardins increased their Q3 2024 EPS estimates for Gildan Activewear in a research note issued to investors on Thursday, October 24th. Desjardins analyst C. Li now expects that the company will post earnings per share of $1.16 for the quarter, up from their previous estimate of $1.15. Desjardins currently has a “Buy” rating and a $67.00 target price on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.55 per share. Desjardins also issued estimates for Gildan Activewear’s FY2025 earnings at $4.69 EPS.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Thursday, August 1st. The company reported C$1.01 EPS for the quarter, topping analysts’ consensus estimates of C$0.99 by C$0.02. The firm had revenue of C$1.18 billion for the quarter, compared to analysts’ expectations of C$1.17 billion. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%.

GIL has been the subject of a number of other reports. National Bankshares boosted their price objective on shares of Gildan Activewear from C$58.00 to C$68.00 in a report on Wednesday, October 9th. Citigroup boosted their price target on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets raised Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. Finally, TD Securities lifted their price objective on Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$56.00.

Gildan Activewear Stock Performance

Shares of GIL stock opened at C$66.81 on Monday. The company has a market capitalization of C$10.86 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. Gildan Activewear has a one year low of C$37.78 and a one year high of C$67.19. The company’s 50-day moving average is C$62.07 and its 200 day moving average is C$54.87.

Gildan Activewear Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.12 annualized dividend and a dividend yield of 1.68%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s payout ratio is presently 33.94%.

Insider Buying and Selling

In other news, Director Michener Chandlee purchased 1,196 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of C$40.85 per share, for a total transaction of C$48,856.60. In other Gildan Activewear news, Director Michener Chandlee acquired 1,196 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of C$40.85 per share, with a total value of C$48,856.60. Also, Senior Officer Benito Masi sold 50,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$41.55, for a total value of C$2,077,495.00. Insiders sold 101,620 shares of company stock valued at $4,870,471 over the last 90 days. Company insiders own 2.26% 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.