Desjardins Comments on Gildan Activewear Inc’s FY2018 Earnings (GIL)
Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) – Research analysts at Desjardins decreased their FY2018 earnings per share (EPS) estimates for shares of Gildan Activewear in a note issued to investors on Friday. Desjardins analyst K. Howlett now anticipates that the company will earn $2.39 per share for the year, down from their previous forecast of $2.41.
Several other brokerages also recently weighed in on GIL. National Bank Financial downgraded Gildan Activewear from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$40.00 to C$41.00 in a research note on Friday, August 4th. Canaccord Genuity downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BMO Capital Markets lowered their target price on Gildan Activewear from C$34.00 to C$30.00 and set a “market perform” rating on the stock in a research note on Friday, November 3rd. Royal Bank Of Canada downgraded Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a C$40.00 target price on the stock. in a research note on Wednesday, July 12th. Finally, TD Securities downgraded Gildan Activewear from a “buy” rating to a “hold” rating and set a C$41.50 target price on the stock. in a research note on Friday, August 4th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of C$39.58.
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Gildan Activewear (GIL) traded down C$0.03 on Monday, reaching C$37.81. The company’s stock had a trading volume of 518,307 shares, compared to its average volume of 677,660. Gildan Activewear has a 52 week low of C$30.97 and a 52 week high of C$42.18.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be paid a $0.121 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Wednesday, November 15th.
In other Gildan Activewear news, Director George Jason Heller purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of C$38.58 per share, for a total transaction of C$96,450.00. Also, insider Eric Ralph Lehman sold 25,000 shares of Gildan Activewear stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of C$30.19, for a total value of C$754,750.00. Insiders sold a total of 227,300 shares of company stock worth $8,567,256 over the last quarter.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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