Gildan Activewear (NYSE:GIL) Releases FY24 Earnings Guidance

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.92-3.07 for the period, compared to the consensus EPS estimate of $2.95.

Wall Street Analysts Forecast Growth

Several analysts have commented on GIL shares. Royal Bank of Canada restated an outperform rating and issued a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. Citigroup increased their price objective on Gildan Activewear from $40.00 to $44.00 and gave the company a buy rating in a research report on Friday, February 23rd. TD Securities raised their target price on Gildan Activewear from $42.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Scotiabank upped their price target on Gildan Activewear from $39.50 to $40.50 and gave the stock a sector outperform rating in a research report on Friday, February 9th. Finally, Stifel Nicolaus upped their price objective on Gildan Activewear from $34.00 to $36.00 and gave the stock a hold rating in a research note on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $41.25.

Gildan Activewear Stock Down 0.2 %

Shares of NYSE GIL traded down $0.07 during mid-day trading on Wednesday, reaching $34.59. 728,270 shares of the company were exchanged, compared to its average volume of 805,102. The firm has a 50-day moving average of $35.61 and a 200 day moving average of $33.97. Gildan Activewear has a 1 year low of $26.98 and a 1 year high of $38.87. The company has a quick ratio of 0.83, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.34 and a beta of 1.38.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.75 earnings per share 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 for the quarter, compared to analyst estimates of $753.35 million. During the same period in the prior year, the company earned $0.65 earnings per share. The company's revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Gildan Activewear will post 2.94 earnings per share for the current year.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Gildan Activewear's previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.37%. Gildan Activewear's dividend payout ratio is 27.06%.

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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