National Bank Financial Analysts Increase Earnings Estimates for Gildan Activewear Inc. (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL - Equities research analysts at National Bank Financial boosted their Q3 2024 earnings per share (EPS) estimates for Gildan Activewear in a report released on Tuesday, October 8th. National Bank Financial analyst V. Shreedhar now expects that the textile maker will post earnings per share of $0.84 for the quarter, up from their previous forecast of $0.83. The consensus estimate for Gildan Activewear's current full-year earnings is $2.92 per share. National Bank Financial also issued estimates for Gildan Activewear's Q4 2024 earnings at $0.78 EPS, FY2024 earnings at $2.95 EPS, Q3 2025 earnings at $0.95 EPS and Q4 2025 earnings at $0.86 EPS.

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

GIL has been the topic of a number of other research reports. BMO Capital Markets raised their target price on Gildan Activewear from $43.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price target on Gildan Activewear from $41.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price target on Gildan Activewear from $51.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.77.

Gildan Activewear Trading Up 2.0 %

GIL traded up $0.93 during midday trading on Friday, reaching $47.64. 473,816 shares of the company were exchanged, compared to its average volume of 729,458. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35. Gildan Activewear has a one year low of $27.24 and a one year high of $47.75. The stock has a market capitalization of $7.59 billion, a P/E ratio of 19.52, a PEG ratio of 1.81 and a beta of 1.43. The stock's 50-day simple moving average is $44.46 and its 200 day simple moving average is $39.61.

Institutional Investors Weigh In On Gildan Activewear

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis acquired a new position in shares of Gildan Activewear during the 1st quarter worth approximately $51,000. Cullen Frost Bankers Inc. acquired a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $51,000. Tobam acquired a new position in shares of Gildan Activewear during the 2nd quarter worth approximately $53,000. EverSource Wealth Advisors LLC increased its position in shares of Gildan Activewear by 16.9% during 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 last quarter. Finally, CWM LLC increased its position in shares of Gildan Activewear by 23.0% during the 3rd quarter. CWM LLC now owns 1,698 shares of the textile maker's stock worth $80,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 22nd were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear's dividend payout ratio is presently 33.61%.

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.