Gildan Activewear (NYSE:GIL) Releases FY 2024 Earnings Guidance

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.920-3.070 for the period, compared to the consensus estimate of 2.950. The company issued revenue guidance of -. Gildan Activewear also updated its FY24 guidance to $2.92-3.07 EPS.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. CIBC boosted their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the company an outperform rating in a report on Thursday, February 22nd. Scotiabank boosted their price objective on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a sector outperform rating in a report on Friday, February 9th. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the company a hold rating in a report on Thursday, February 22nd. Citigroup boosted their price objective on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a buy rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada reissued an outperform rating and issued a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Gildan Activewear has an average rating of Moderate Buy and a consensus target price of $41.25.

Gildan Activewear Trading Down 0.7 %

Shares of NYSE:GIL traded down $0.26 during trading on Monday, reaching $35.33. The stock had a trading volume of 590,203 shares, compared to its average volume of 839,745. The firm's fifty day moving average is $35.32 and its 200 day moving average is $33.38. 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 52 week low of $26.98 and a 52 week high of $38.87. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.35 and a beta of 1.38.

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 (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $782.70 million for the quarter, compared to analyst estimates of $753.35 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. Gildan Activewear's revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, equities analysts forecast that Gildan Activewear will post 2.94 EPS for the current fiscal year.

Gildan Activewear Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.82 annualized dividend and a dividend yield of 2.32%. This is a boost from Gildan Activewear's previous quarterly dividend of $0.19. Gildan Activewear's dividend payout ratio (DPR) is currently 27.06%.

Institutional Investors Weigh In On Gildan Activewear

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its position in shares of Gildan Activewear by 34.2% during the 4th quarter. Legal & General Group Plc now owns 1,103,826 shares of the textile maker's stock valued at $36,681,000 after purchasing an additional 281,095 shares in the last quarter. Barclays PLC grew its position in shares of Gildan Activewear by 7,589.4% during the 4th quarter. Barclays PLC now owns 13,072 shares of the textile maker's stock valued at $432,000 after purchasing an additional 12,902 shares in the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $4,893,000. Nuveen Asset Management LLC purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $4,446,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Gildan Activewear during the 4th quarter valued at $6,618,000. Institutional investors own 82.83% of the company's stock.

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.

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