National Bank Financial Comments on Gildan Activewear Inc.'s Q3 2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL - Free Report) NYSE: GIL - Investment analysts at National Bank Financial lowered their Q3 2024 earnings per share estimates for shares of Gildan Activewear in a research report issued to clients and investors on Tuesday, October 8th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings per share of $1.14 for the quarter, down from their prior forecast of $1.15. The consensus estimate for Gildan Activewear's current full-year earnings is $4.55 per share. National Bank Financial also issued estimates for Gildan Activewear's Q4 2024 earnings at $1.06 EPS, Q4 2025 earnings at $1.17 EPS and FY2026 earnings at $5.13 EPS.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last posted its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 earnings per share for the quarter, topping analysts' consensus estimates of C$0.99 by C$0.02. The company had revenue of C$1.18 billion during the quarter, compared to analysts' expectations of C$1.17 billion. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%.

GIL has been the topic of a number of other research reports. TD Securities lifted their price objective on Gildan Activewear from C$46.00 to C$50.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Citigroup raised their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. National Bankshares increased their price target on shares of Gildan Activewear from C$58.00 to C$68.00 in a report on Wednesday. Desjardins boosted their price objective on shares of Gildan Activewear from C$63.00 to C$67.00 and gave the stock a "buy" rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets upgraded shares of Gildan Activewear to a "strong-buy" rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$56.00.

Gildan Activewear Stock Performance

GIL traded down C$0.89 during trading on Thursday, hitting C$64.17. The stock had a trading volume of 427,204 shares, compared to its average volume of 360,574. The firm has a market capitalization of C$10.43 billion, a P/E ratio of 19.90, a PEG ratio of 4.55 and a beta of 1.64. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. Gildan Activewear has a twelve month low of C$37.78 and a twelve month high of C$65.14. The company's 50-day moving average price is C$59.58 and its 200 day moving average price is C$53.46.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Gildan Activewear's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 22nd. Gildan Activewear's payout ratio is 33.94%.

Insider Activity

In other news, Director Michener Chandlee bought 1,196 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of C$40.85 per share, with a total value of C$48,856.60. In other Gildan Activewear news, Senior Officer Benito Masi sold 50,000 shares of Gildan Activewear stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total value of C$2,077,495.00. Also, Director Michener Chandlee bought 1,196 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of C$40.85 per share, for a total transaction of C$48,856.60. Insiders have sold 101,620 shares of company stock worth $4,870,471 over the last three months. 2.26% of the stock is currently owned by corporate insiders.

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.