Gildan Activewear, Inc. (GIL) Issues Earnings Results, Beats Estimates By $0.02 EPS
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) posted its quarterly earnings results on Thursday. The textile maker reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02, Briefing.com reports. Gildan Activewear had a return on equity of 18.73% and a net margin of 14.21%. The company had revenue of $716.40 million for the quarter, compared to analysts’ expectations of $748.86 million. During the same period in the previous year, the firm earned $0.50 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Gildan Activewear updated its FY17 guidance to $1.70-1.72 EPS.
Shares of Gildan Activewear (GIL) traded down $0.35 on Friday, hitting $28.95. The stock had a trading volume of 1,180,899 shares, compared to its average volume of 509,820. The firm has a market capitalization of $6.55 billion, a PE ratio of 16.87, a PEG ratio of 1.26 and a beta of 0.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.88 and a current ratio of 5.55.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.094 per share. The ex-dividend date is Wednesday, November 15th. This represents a $0.38 annualized dividend and a dividend yield of 1.30%. Gildan Activewear’s dividend payout ratio (DPR) is 22.02%.
GIL has been the topic of a number of research analyst reports. Zacks Investment Research raised Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Tuesday, August 29th. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of Gildan Activewear in a report on Friday, August 4th. Finally, Canaccord Genuity set a $32.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a report on Friday, July 7th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Gildan Activewear presently has a consensus rating of “Hold” and an average target price of $34.71.
About Gildan Activewear
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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