Gildan Activewear Inc. (NYSE:GIL) Announces $0.15 Quarterly Dividend

Gildan Activewear Inc. (NYSE:GIL - Get Free Report) TSE: GIL declared a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.152 per share by the textile maker on Monday, December 16th. This represents a $0.61 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, November 21st.

Gildan Activewear has raised its dividend by an average of 69.1% per year over the last three years. Gildan Activewear has a dividend payout ratio of 24.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gildan Activewear to earn $3.32 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 24.7%.

Gildan Activewear Stock Performance

NYSE GIL traded up $0.76 during trading on Friday, reaching $49.66. 531,424 shares of the company's stock were exchanged, compared to its average volume of 709,643. The business has a 50 day moving average price of $46.45 and a 200-day moving average price of $40.87. The stock has a market capitalization of $7.80 billion, a P/E ratio of 20.35, a PEG ratio of 1.83 and a beta of 1.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. Gildan Activewear has a fifty-two week low of $28.95 and a fifty-two week high of $49.92.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. The firm had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. Sell-side analysts forecast that Gildan Activewear will post 2.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GIL has been the topic of several research reports. Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Friday. BMO Capital Markets upped their target price on Gildan Activewear from $47.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday. Stifel Nicolaus upped 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. CIBC upped their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Canaccord Genuity Group upped their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Friday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Gildan Activewear presently has an average rating of "Moderate Buy" and a consensus target price of $51.05.

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.