Gildan Activewear (NYSE:GIL) Updates FY24 Earnings Guidance

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.97-3.02 for the period, compared to the consensus estimate of $2.96. Gildan Activewear also updated its FY 2024 guidance to 2.970-3.020 EPS.

Gildan Activewear Trading Up 1.1 %

Shares of Gildan Activewear stock traded up $0.53 on Thursday, hitting $48.90. 730,064 shares of the company's stock traded hands, compared to its average volume of 710,343. Gildan Activewear has a one year low of $27.86 and a one year high of $49.64. The firm's 50-day moving average price is $46.17 and its two-hundred day moving average price is $40.71. The stock has a market capitalization of $7.68 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.78 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 (NYSE:GIL - Get Free Report) TSE: GIL last issued its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The company had revenue of $862.20 million for the quarter, compared to analyst estimates of $851.10 million. During the same period in the prior year, the firm earned $0.63 earnings per share. The company's revenue was up 2.6% on a year-over-year basis. On average, research analysts expect that Gildan Activewear will post 2.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GIL. Royal Bank of Canada raised their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on Gildan Activewear from $51.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. BMO Capital Markets boosted their target price on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Finally, TD Securities boosted their price objective on Gildan Activewear from $50.00 to $56.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $45.68.

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.