Gildan Activewear (NYSE:GIL) Releases Earnings Results, Beats Expectations By $0.07 EPS

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL issued its quarterly earnings data on Wednesday. The textile maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.07, Briefing.com reports. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The business had revenue of $695.80 million for the quarter, compared to analysts' expectations of $692.94 million. During the same quarter in the prior year, the firm posted $0.45 EPS. The firm's quarterly revenue was down 1.0% on a year-over-year basis. Gildan Activewear updated its FY24 guidance to $2.92-3.07 EPS.

Gildan Activewear Price Performance

GIL stock traded down $1.06 during trading on Thursday, hitting $33.53. The company had a trading volume of 1,631,703 shares, compared to its average volume of 814,826. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. The company has a market cap of $5.65 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.31 and a beta of 1.38. The company has a fifty day moving average price of $35.59 and a two-hundred day moving average price of $33.97. Gildan Activewear has a fifty-two week low of $26.98 and a fifty-two week high of $38.87.

Gildan Activewear Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, May 22nd. Gildan Activewear's dividend payout ratio is 27.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. TD Securities boosted their price objective on Gildan Activewear from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. Citigroup lifted their price target on Gildan Activewear from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, February 23rd. UBS Group lowered Gildan Activewear from a "buy" rating to a "neutral" rating and cut their price target for the company from $40.00 to $37.00 in a research note on Friday, January 5th. Scotiabank boosted their price objective on Gildan Activewear from $39.50 to $40.50 and gave the stock a "sector outperform" rating in a research note on Friday, February 9th. Finally, Canaccord Genuity Group upped their price objective on Gildan Activewear from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.95.

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.