Q1 2024 EPS Estimates for Gildan Activewear Inc. Raised by National Bank Financial (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at National Bank Financial upped their Q1 2024 earnings estimates for shares of Gildan Activewear in a research note issued on Monday, April 15th. National Bank Financial analyst V. Shreedhar now expects that the textile maker will post earnings of $0.54 per share for the quarter, up from their previous estimate of $0.53. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share.

Other equities analysts have also issued reports about the stock. TD Securities lifted their target price on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. UBS Group lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and cut their target price for the company from $40.00 to $37.00 in a report on Friday, January 5th. Citigroup lifted their target price on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. Finally, Scotiabank lifted their target price on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Gildan Activewear Stock Performance

Shares of NYSE GIL opened at $35.13 on Thursday. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. Gildan Activewear has a 12 month low of $26.98 and a 12 month high of $38.87. The company has a 50 day simple moving average of $35.46 and a two-hundred day simple moving average of $33.51. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.36 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The business had revenue of $782.70 million during the quarter, compared to analysts’ expectations of $753.35 million. During the same period in the previous year, the business posted $0.65 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. Gildan Activewear’s payout ratio is presently 27.06%.

Institutional Investors Weigh In On Gildan Activewear

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. acquired a new stake in Gildan Activewear during the 4th quarter worth $34,456,000. Strs Ohio boosted its stake in Gildan Activewear by 443.6% during the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock worth $19,547,000 after purchasing an additional 480,000 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Gildan Activewear by 1.1% during the 4th quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker’s stock worth $89,732,000 after purchasing an additional 29,193 shares during the last quarter. Vanguard Group Inc. boosted its stake in Gildan Activewear by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock worth $179,293,000 after purchasing an additional 97,924 shares during the last quarter. Finally, Galibier Capital Management Ltd. acquired a new stake in Gildan Activewear during the 3rd quarter worth $26,255,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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.