FY2024 EPS Estimates for Gildan Activewear Inc. Raised by National Bank Financial (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – National Bank Financial raised their FY2024 earnings estimates for Gildan Activewear in a research note issued on Monday, April 15th. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will post earnings per share of $2.99 for the year, up from their prior forecast of $2.98. 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 Q1 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.97 EPS and FY2025 earnings at $3.28 EPS.

A number of other research firms also recently issued reports on GIL. CIBC lifted their price target on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. UBS Group cut shares of Gildan Activewear from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $40.00 to $37.00 in a research note on Friday, January 5th. Stifel Nicolaus lifted their target price on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Scotiabank lifted their target price on shares of Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a research note on Friday, February 9th. Finally, Citigroup lifted their target price on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Gildan Activewear Price Performance

Shares of GIL stock traded down $0.76 during midday trading on Wednesday, reaching $35.21. 523,084 shares of the company traded hands, compared to its average volume of 844,448. The firm’s 50 day simple moving average is $35.41 and its two-hundred day simple moving average is $33.49. 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 0.39, a current ratio of 2.33 and a quick ratio of 0.83. The firm has a market cap of $5.94 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.34 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 analysts’ consensus estimates of $0.72 by $0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The firm had revenue of $782.70 million during the quarter, compared to the consensus estimate of $753.35 million. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year.

Gildan Activewear Increases Dividend

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

Hedge Funds Weigh In On Gildan Activewear

A number of institutional investors have recently added to or reduced their stakes in GIL. CWM LLC grew its position in shares of Gildan Activewear by 86.5% during the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after buying an additional 498 shares during the last quarter. Byrne Asset Management LLC bought a new stake in shares of Gildan Activewear during the 3rd quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its position in shares of Gildan Activewear by 120.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after buying an additional 900 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Gildan Activewear by 529.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock valued at $73,000 after buying an additional 1,863 shares during the last quarter. Finally, Mather Group LLC. bought a new position in Gildan Activewear in the 1st quarter worth about $122,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.