Gildan Activewear (TSE:GIL) Stock Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• Gildan Activewear shares rose above their 50-day moving average, reaching C$76.07 and last trading at C$75.50 on volume of 912,401 shares.
• Analyst sentiment remains positive: three analysts rate the stock Buy and one rates it Hold, resulting in a consensus “Moderate Buy” rating and an average price target of C$89.50.
• The company reported C$1.82 in quarterly EPS on C$1.13 billion in revenue and announced a quarterly dividend of $0.249 per share, representing a 1.3% yield.

Gildan Activewear Inc. (TSE:GIL - Get Free Report) NYSE: GIL shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$75.48 and traded as high as C$76.07. Gildan Activewear shares last traded at C$75.50, with a volume of 912,401 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GIL. Desjardins set a C$108.00 price objective on shares of Gildan Activewear and gave the company a "buy" rating in a research note on Tuesday, July 28th. National Bank Financial increased their target price on shares of Gildan Activewear from C$105.00 to C$107.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Gildan Activewear presently has an average rating of "Moderate Buy" and a consensus target price of C$89.50.

Gildan Activewear Stock Performance

The stock has a market cap of C$13.98 billion, a P/E ratio of 148.04, a PEG ratio of 4.55 and a beta of 1.51. The company has a fifty day moving average of C$75.48 and a 200 day moving average of C$80.82. The company has a debt-to-equity ratio of 145.29, a current ratio of 1.93 and a quick ratio of 0.87.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last issued its quarterly earnings results on Thursday, July 30th. The company reported C$1.82 earnings per share (EPS) for the quarter. Gildan Activewear had a return on equity of 2.12% and a net margin of 1.33%.The firm had revenue of C$1.13 billion during the quarter. On average, equities analysts predict that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 14th will be paid a dividend of $0.249 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a yield of 1.3%. Gildan Activewear's dividend payout ratio (DPR) is currently 186.27%.

Gildan Activewear Company Profile

Gildan is a leading manufacturer of everyday basic apparel. The Company's product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.

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