Desjardins Research Analysts Lift Earnings Estimates for GIL

Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL - Equities researchers at Desjardins boosted their FY2024 earnings estimates for shares of Gildan Activewear in a research report issued on Thursday, October 31st. Desjardins analyst C. Li now expects that the textile maker will earn $2.98 per share for the year, up from their prior estimate of $2.97. The consensus estimate for Gildan Activewear's current full-year earnings is $2.93 per share. Desjardins also issued estimates for Gildan Activewear's FY2025 earnings at $3.41 EPS.

GIL has been the topic of a number of other research reports. TD Securities upped their target price on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Friday. CIBC upped their target price on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research note on Friday. Stifel Nicolaus upped their target price on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday. Finally, BMO Capital Markets upped their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Gildan Activewear presently has a consensus rating of "Moderate Buy" and an average target price of $50.85.

Gildan Activewear Stock Down 1.1 %

NYSE:GIL traded down $0.54 on Monday, reaching $49.12. The stock had a trading volume of 675,612 shares, compared to its average volume of 709,484. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $46.45 and a 200 day moving average of $40.94. The stock has a market cap of $7.71 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. Gildan Activewear has a 12-month low of $30.68 and a 12-month high of $50.12.

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

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, November 21st. Gildan Activewear's payout ratio is 32.41%.

Institutional Trading of Gildan Activewear

A number of large investors have recently added to or reduced their stakes in the business. Cooke & Bieler LP boosted its holdings in Gildan Activewear by 2.7% during the second quarter. Cooke & Bieler LP now owns 10,252,785 shares of the textile maker's stock worth $388,786,000 after buying an additional 271,273 shares in the last quarter. Cardinal Capital Management Inc. lifted its position in shares of Gildan Activewear by 1.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 2,907,144 shares of the textile maker's stock valued at $110,197,000 after acquiring an additional 42,094 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Gildan Activewear by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,568,733 shares of the textile maker's stock valued at $97,290,000 after acquiring an additional 324,304 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of Gildan Activewear by 28.0% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,863,618 shares of the textile maker's stock valued at $70,696,000 after acquiring an additional 407,113 shares in the last quarter. Finally, Anson Funds Management LP lifted its position in shares of Gildan Activewear by 13.8% in the 1st quarter. Anson Funds Management LP now owns 1,791,705 shares of the textile maker's stock valued at $66,521,000 after acquiring an additional 216,705 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.