Gildan Activewear, Inc. (NYSE:GIL) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Gildan Activewear, Inc. has been rated a "Moderate Buy" by analysts, with thirteen out of fourteen analysts recommending a buy and an average target price of $66.23.
• Several hedge funds have increased their stakes in Gildan Activewear, with Mackenzie Financial Corp raising its stake by 61.9% in the last quarter.
• The company recently announced a quarterly dividend of $0.226, with an annualized yield of 1.5% and a payout ratio of 28.57%.

Shares of Gildan Activewear, Inc. (NYSE:GIL - Get Free Report) TSE: GIL have been assigned a consensus rating of "Moderate Buy" from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $66.2308.

Several analysts have recently commented on GIL shares. Barclays raised their price target on Gildan Activewear from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Scotiabank reissued an "outperform" rating on shares of Gildan Activewear in a report on Thursday, August 14th. TD Cowen raised their price target on Gildan Activewear from $67.00 to $73.00 and gave the company a "buy" rating in a report on Monday, October 6th. CIBC raised their price target on Gildan Activewear from $56.00 to $60.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Gildan Activewear in a report on Saturday, September 27th.

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Gildan Activewear by 61.9% in the 2nd quarter. Mackenzie Financial Corp now owns 4,434,020 shares of the textile maker's stock valued at $218,622,000 after purchasing an additional 1,695,329 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Gildan Activewear by 24.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,678,451 shares of the textile maker's stock valued at $180,305,000 after purchasing an additional 718,896 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Gildan Activewear by 67.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,959,555 shares of the textile maker's stock valued at $131,556,000 after purchasing an additional 1,189,921 shares in the last quarter. Cardinal Capital Management Inc. increased its stake in Gildan Activewear by 0.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 2,728,046 shares of the textile maker's stock valued at $134,378,000 after purchasing an additional 14,065 shares in the last quarter. Finally, Norges Bank purchased a new position in Gildan Activewear in the 2nd quarter valued at approximately $101,409,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Gildan Activewear Stock Down 2.1%

Gildan Activewear stock opened at $59.43 on Friday. Gildan Activewear has a twelve month low of $37.16 and a twelve month high of $62.23. The stock has a 50 day moving average of $55.68 and a two-hundred day moving average of $50.05. The company has a current ratio of 3.87, a quick ratio of 1.67 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.95 and a beta of 1.20.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings results on Thursday, July 31st. The textile maker reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $918.50 million during the quarter, compared to analysts' expectations of $908.41 million. Gildan Activewear had a return on equity of 34.31% and a net margin of 14.55%.The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. Gildan Activewear has set its FY 2025 guidance at 3.400-3.560 EPS. As a group, research analysts expect that Gildan Activewear will post 3.48 earnings per share for the current year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 21st were paid a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 21st. Gildan Activewear's dividend payout ratio (DPR) is presently 28.57%.

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.

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