Desjardins Raises Earnings Estimates for Gildan Activewear

Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL - Analysts at Desjardins raised their Q3 2024 earnings per share estimates for Gildan Activewear in a research report issued 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 forecast 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 - Get Free Report) TSE: GIL last released its earnings results on Thursday, August 1st. The textile maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The firm had revenue of $862.20 million during the quarter, compared to analyst estimates of $851.10 million. During the same period last year, the business posted $0.63 earnings per share. Gildan Activewear's revenue was up 2.6% compared to the same quarter last year.

A number of other brokerages have also recently issued reports on GIL. Stifel Nicolaus upped their target price on Gildan Activewear from $51.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. TD Securities raised their target price on Gildan Activewear from $50.00 to $56.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. BMO Capital Markets increased their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, 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 research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.68.

Gildan Activewear Stock Performance

NYSE GIL traded up $0.37 during trading hours on Monday, hitting $48.44. The company had a trading volume of 177,442 shares, compared to its average volume of 712,146. The business has a 50 day moving average of $45.82 and a 200-day moving average of $40.48. The company has a market cap of $8.03 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.78 and a beta of 1.43. Gildan Activewear has a 1-year low of $27.61 and a 1-year high of $48.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GIL. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Gildan Activewear in the first quarter valued at about $692,000. Canada Pension Plan Investment Board raised its stake in shares of Gildan Activewear by 16.1% during the first quarter. Canada Pension Plan Investment Board now owns 563,498 shares of the textile maker's stock valued at $20,933,000 after purchasing an additional 78,338 shares during the period. BW Gestao de Investimentos Ltda. acquired a new position in shares of Gildan Activewear during the first quarter worth $5,570,000. Boston Partners boosted its stake in shares of Gildan Activewear by 217.3% in the first quarter. Boston Partners now owns 357,910 shares of the textile maker's stock valued at $13,281,000 after purchasing an additional 245,119 shares during the period. Finally, Bridges Investment Management Inc. acquired a new position in Gildan Activewear in the 2nd quarter worth $1,425,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear's dividend payout ratio is presently 27.70%.

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.