Gildan Activewear, Inc. (NYSE:GIL) Announces Quarterly Dividend of $0.25

Key Points

• Gildan Activewear declared a quarterly dividend of $0.249 per share, payable September 14 to shareholders of record August 20. The annualized dividend is approximately $0.99, yielding about 1.9%, with a 25.7% payout ratio.
• The company reported quarterly earnings of $1.28 per share, exceeding analysts’ $1.11 estimate, while revenue rose 72.3% year over year.
• GIL shares rose 2.2% to $52.40. Analysts maintain a “Moderate Buy” consensus, with 13 Buy ratings, four Holds and an average price target of $78.21.

Gildan Activewear, Inc. (NYSE:GIL - Get Free Report) TSE: GIL announced a quarterly dividend on Thursday, July 30th. Investors of record on Thursday, August 20th will be given a dividend of 0.249 per share by the textile maker on Monday, September 14th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, August 20th.

Gildan Activewear has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 2 years. Gildan Activewear has a dividend payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gildan Activewear to earn $5.23 per share next year, which means the company should continue to be able to cover its $0.99 annual dividend with an expected future payout ratio of 18.9%.

Gildan Activewear Stock Up 2.2%

NYSE GIL traded up $1.15 during trading hours on Thursday, hitting $52.40. 3,843,140 shares of the company traded hands, compared to its average volume of 1,429,976. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.17 and a current ratio of 2.35. The business's 50-day moving average is $54.62 and its 200-day moving average is $59.56. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 30.82 and a beta of 1.11. Gildan Activewear has a twelve month low of $46.00 and a twelve month high of $73.69.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.38% and a net margin of 6.10%.Gildan Activewear's revenue was up 72.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Sell-side analysts anticipate that Gildan Activewear will post 4.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on GIL shares. Weiss Ratings cut shares of Gildan Activewear from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 18th. TD Securities restated a "buy" rating on shares of Gildan Activewear in a research note on Tuesday, June 16th. Scotia dropped their target price on shares of Gildan Activewear from $72.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Wednesday, June 17th. Scotiabank reiterated a "sector outperform" rating and issued a $65.00 target price (down from $72.00) on shares of Gildan Activewear in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Gildan Activewear in a report on Wednesday, June 17th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $78.21.

Gildan Activewear Company Profile

Gildan Activewear Inc NYSE: GIL is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.

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