National Bank Financial Research Analysts Boost Earnings Estimates for Gildan Activewear Inc. (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL - Research analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for Gildan Activewear in a note issued to investors on Monday, April 15th. National Bank Financial analyst V. Shreedhar now expects that the textile maker will post earnings per share of $2.99 for the year, up from their prior forecast of $2.98. The consensus estimate for Gildan Activewear's current full-year earnings is $2.94 per share. National Bank Financial also issued estimates for Gildan Activewear's Q1 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.97 EPS and FY2025 earnings at $3.28 EPS.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last issued its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The business had revenue of $782.70 million during the quarter, compared to the consensus estimate of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share.

GIL has been the subject of a number of other reports. Citigroup lifted their target price on Gildan Activewear from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. CIBC raised their price objective on Gildan Activewear from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. Scotiabank raised their price objective on Gildan Activewear from $39.50 to $40.50 and gave the company a "sector outperform" rating in a research note on Friday, February 9th. Royal Bank of Canada reissued an "outperform" rating and issued a $41.00 price objective on shares of Gildan Activewear in a research note on Monday, April 8th. Finally, TD Securities raised their price objective on Gildan Activewear from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $41.25.

Gildan Activewear Trading Down 2.1 %

GIL stock traded down $0.74 during mid-day trading on Wednesday, reaching $35.23. The company's stock had a trading volume of 547,126 shares, compared to its average volume of 844,773. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.34 and a beta of 1.38. The business's 50 day moving average price is $35.44 and its 200 day moving average price is $33.50. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. Gildan Activewear has a 12 month low of $26.98 and a 12 month high of $38.87.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were given a dividend of $0.205 per share. This is a boost from Gildan Activewear's previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, March 12th. This represents a $0.82 annualized dividend and a dividend yield of 2.33%. Gildan Activewear's payout ratio is presently 27.06%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. purchased a new position in Gildan Activewear in the fourth quarter worth $34,456,000. Mackenzie Financial Corp boosted its position in Gildan Activewear by 1.1% in the fourth quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker's stock worth $89,732,000 after purchasing an additional 29,193 shares during the last quarter. Vanguard Group Inc. boosted its position in Gildan Activewear by 1.6% in the third quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker's stock worth $179,293,000 after purchasing an additional 97,924 shares during the last quarter. Galibier Capital Management Ltd. bought a new stake in shares of Gildan Activewear in the third quarter valued at $26,255,000. Finally, Intact Investment Management Inc. raised its stake in shares of Gildan Activewear by 39.3% in the third quarter. Intact Investment Management Inc. now owns 100,300 shares of the textile maker's stock valued at $2,811,000 after buying an additional 28,300 shares during the period. Hedge funds and other institutional investors own 82.83% of the company's stock.

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.