Q2 2024 Earnings Forecast for Gildan Activewear Inc. Issued By National Bank Financial (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GILFree Report) (TSE:GIL) – Research analysts at National Bank Financial dropped their Q2 2024 earnings estimates for shares of Gildan Activewear in a research report issued on Wednesday, May 1st. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will post earnings of $0.77 per share for the quarter, down from their prior estimate of $0.82. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q3 2024 earnings at $0.86 EPS, Q4 2024 earnings at $0.77 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.94 EPS and Q4 2025 earnings at $0.85 EPS.

GIL has been the subject of a number of other reports. Scotiabank lifted their target price on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. Canaccord Genuity Group lifted their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, February 22nd. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. Finally, CIBC increased their target price on Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.95.

View Our Latest Report on Gildan Activewear

Gildan Activewear Stock Down 1.3 %

Shares of NYSE:GIL opened at $33.10 on Friday. Gildan Activewear has a 1 year low of $26.98 and a 1 year high of $38.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.83. The business’s 50-day moving average is $35.51 and its 200-day moving average is $34.02. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.27 and a beta of 1.38.

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) last announced its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.14% and a return on equity of 24.00%. The business had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. During the same quarter last year, the firm earned $0.45 earnings per share. Gildan Activewear’s quarterly revenue was down 1.0% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Gildan Activewear in the 4th quarter valued at about $70,917,000. Browning West LP lifted its holdings in Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after acquiring an additional 1,994,900 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Gildan Activewear in the fourth quarter worth $34,456,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Gildan Activewear by 130.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 925,970 shares of the textile maker’s stock valued at $25,952,000 after purchasing an additional 524,691 shares during the period. Finally, Strs Ohio increased its position in shares of Gildan Activewear by 443.6% during the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker’s stock valued at $19,547,000 after purchasing an additional 480,000 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Wednesday, May 22nd. Gildan Activewear’s dividend payout ratio is 27.36%.

Gildan Activewear Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Gildan Activewear (NYSE:GIL)

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