Gildan Activewear, Inc. (NYSE:GIL) Receives Average Recommendation of “Hold” from Analysts
Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have been given an average rating of “Hold” by the twelve ratings firms that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $35.14.
A number of research firms have weighed in on GIL. Zacks Investment Research raised Gildan Activewear from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, May 16th. CIBC raised Gildan Activewear from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, June 28th. National Bank Financial lowered Gildan Activewear from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 4th. Canaccord Genuity set a $32.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a research note on Friday, July 7th. Finally, BMO Capital Markets reissued a “buy” rating and set a $34.00 price objective (up previously from $32.00) on shares of Gildan Activewear in a research note on Friday, August 4th.
Shares of Gildan Activewear (NYSE GIL) traded down 0.13% during mid-day trading on Friday, hitting $30.13. The stock had a trading volume of 382,658 shares. The stock has a market cap of $6.76 billion, a P/E ratio of 18.24 and a beta of 0.72. The firm has a 50 day moving average of $30.46 and a 200-day moving average of $27.98. Gildan Activewear has a one year low of $23.55 and a one year high of $31.83.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $715.40 million for the quarter, compared to analyst estimates of $753.85 million. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Equities research analysts expect that Gildan Activewear will post $1.70 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 17th will be given a $0.094 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.38 dividend on an annualized basis and a yield of 1.25%. Gildan Activewear’s dividend payout ratio is currently 22.42%.
A number of large investors have recently bought and sold shares of the stock. Pembroke Management LTD increased its stake in Gildan Activewear by 13.5% in the first quarter. Pembroke Management LTD now owns 1,332,230 shares of the textile maker’s stock worth $47,867,000 after buying an additional 158,200 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Gildan Activewear by 6.1% in the first quarter. Canada Pension Plan Investment Board now owns 221,200 shares of the textile maker’s stock worth $5,959,000 after buying an additional 12,672 shares in the last quarter. Wells Fargo & Company MN increased its stake in Gildan Activewear by 73.7% in the first quarter. Wells Fargo & Company MN now owns 105,479 shares of the textile maker’s stock worth $2,853,000 after buying an additional 44,747 shares in the last quarter. BB&T Corp acquired a new stake in Gildan Activewear during the first quarter worth approximately $270,000. Finally, AMF Pensionsforsakring AB increased its stake in Gildan Activewear by 3.3% in the first quarter. AMF Pensionsforsakring AB now owns 260,968 shares of the textile maker’s stock worth $7,031,000 after buying an additional 8,230 shares in the last quarter. Institutional investors own 77.19% of the company’s stock.
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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