Gildan Activewear (TSE:GIL) Share Price Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Gildan Activewear shares crossed below its 200-day moving average, trading as low as C$77.76 and last at C$77.78 versus the 200‑day average of C$85.07 on volume of about 488,307 shares.
• Analysts maintain a consensus "Buy" rating with an average target of C$85.75; recent upgrades include Desjardins lifting its target to C$108 and TD to C$80, with two Strong Buy, three Buy and two Hold ratings overall.
• Recent fundamentals: quarterly EPS of C$1.31 on C$1.41B revenue, market cap C$14.4B and P/E 29.8, and the company raised its quarterly dividend to $0.249 (annualized $1.00, ~1.3% yield).

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$85.07 and traded as low as C$77.76. Gildan Activewear shares last traded at C$77.78, with a volume of 488,307 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on GIL shares. Desjardins lifted their price target on shares of Gildan Activewear from C$95.00 to C$108.00 and gave the company a "buy" rating in a report on Wednesday, February 25th. TD Securities upped their price objective on shares of Gildan Activewear from C$77.00 to C$80.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$85.75.

Gildan Activewear Trading Up 0.4%

The company has a market cap of C$14.40 billion, a PE ratio of 29.80, a PEG ratio of 4.55 and a beta of 1.39. The company has a current ratio of 2.11, a quick ratio of 0.87 and a debt-to-equity ratio of 137.08. The stock has a 50 day moving average price of C$88.83 and a 200 day moving average price of C$85.07.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last released its quarterly earnings results on Thursday, February 26th. The company reported C$1.31 earnings per share for the quarter. The company had revenue of C$1.41 billion for the quarter. Gildan Activewear had a return on equity of 20.25% and a net margin of 11.00%. Sell-side analysts predict that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Monday, April 13th will be given a dividend of $0.249 per share. This is an increase from Gildan Activewear's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Gildan Activewear's dividend payout ratio is 34.64%.

Gildan Activewear Company Profile

Gildan is a leading manufacturer of everyday basic apparel. The Company's product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.

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