Gildan Activewear (TSE:GIL) Stock Price Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• Gildan shares fell below their 200‑day moving average, trading as low as C$80.39 and last at C$80.58 versus the 200‑day MA of C$84.76.
• Analysts remain mostly positive with a MarketBeat consensus rating of "Buy" (2 Strong Buy, 3 Buy, 2 Hold) and a consensus price target of C$85.75; Desjardins recently raised its target to C$108.00.
• Gildan increased its quarterly dividend to $0.249 (annualized $1.00, yield 1.2%) and reported quarterly results of C$1.31 EPS on C$1.41 billion revenue, with a market cap of about C$14.92 billion and a P/E of 30.87.

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$84.76 and traded as low as C$80.39. Gildan Activewear shares last traded at C$80.58, with a volume of 412,933 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Desjardins boosted 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 research report on Wednesday, February 25th. TD Securities raised their price objective on 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 given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$85.75.

Gildan Activewear Stock Down 0.4%

The business's fifty day moving average price is C$91.43 and its 200 day moving average price is C$84.76. The firm has a market capitalization of C$14.92 billion, a price-to-earnings ratio of 30.87, 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.

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

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Monday, April 13th will be issued a dividend of $0.249 per share. This is an increase from Gildan Activewear's previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, March 19th. Gildan Activewear's dividend payout ratio is 34.64%.

About Gildan Activewear

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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