Q1 2024 EPS Estimates for Gildan Activewear Inc. Lifted by Analyst (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL - Equities research analysts at National Bank Financial raised their Q1 2024 earnings per share (EPS) estimates for Gildan Activewear in a report issued on Monday, April 15th. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will earn $0.54 per share for the quarter, up from their previous forecast of $0.53. The consensus estimate for Gildan Activewear's current full-year earnings is $2.94 per share.

A number of other research analysts also recently commented on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $41.00 price target on shares of Gildan Activewear in a report on Monday, April 8th. CIBC increased their price target on Gildan Activewear from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, February 22nd. Citigroup increased their price target on Gildan Activewear from $40.00 to $44.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Stifel Nicolaus increased their price target on Gildan Activewear from $34.00 to $36.00 and gave the company a "hold" rating in a report on Thursday, February 22nd. Finally, TD Securities increased their target price on Gildan Activewear from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.25.

Gildan Activewear Stock Down 0.2 %

Shares of GIL stock traded down $0.08 during trading hours on Thursday, reaching $35.13. The company had a trading volume of 678,774 shares, compared to its average volume of 842,556. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. Gildan Activewear has a twelve month low of $26.98 and a twelve month high of $38.87. The company has a market capitalization of $5.92 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.36 and a beta of 1.38. The stock's fifty day simple moving average is $35.46 and its 200 day simple moving average is $33.51.

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

Gildan Activewear Increases Dividend

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

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds have recently modified their holdings of GIL. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Gildan Activewear in the 4th quarter worth $34,456,000. Strs Ohio grew its holdings in shares of Gildan Activewear by 443.6% in the 4th quarter. Strs Ohio now owns 588,202 shares of the textile maker's stock worth $19,547,000 after acquiring an additional 480,000 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Gildan Activewear by 1.1% in the 4th quarter. Mackenzie Financial Corp now owns 2,712,021 shares of the textile maker's stock worth $89,732,000 after acquiring an additional 29,193 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Gildan Activewear by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker's stock worth $179,293,000 after acquiring an additional 97,924 shares during the last quarter. Finally, Galibier Capital Management Ltd. acquired a new position in shares of Gildan Activewear in the 3rd quarter worth $26,255,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

About Gildan Activewear

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.