Gildan Activewear (NYSE:GIL) Issues Earnings Results

Gildan Activewear (NYSE:GIL) (TSE:GIL) released its earnings results on Wednesday. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07, Briefing.com reports. The company had revenue of $695.80 million for the quarter, compared to analyst estimates of $692.94 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 23.89%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. Gildan Activewear updated its FY24 guidance to $2.92-3.07 EPS.

Gildan Activewear Trading Down 1.3 %

Gildan Activewear stock traded down $0.43 during trading on Friday, hitting $33.10. The company’s stock had a trading volume of 432,252 shares, compared to its average volume of 810,551. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.31 and a beta of 1.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. The stock’s fifty day moving average is $35.51 and its 200 day moving average is $33.99. Gildan Activewear has a 1-year low of $26.98 and a 1-year high of $38.87.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.82 annualized dividend and a yield of 2.48%. Gildan Activewear’s payout ratio is currently 27.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GIL shares. Canaccord Genuity Group raised their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus raised 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 raised their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. UBS Group lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $37.00 in a report on Friday, January 5th. Finally, CIBC raised their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.95.

Gildan Activewear Company Profile

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.