Q1 2024 Earnings Forecast for Gildan Activewear Inc. (TSE:GIL) Issued By National Bank Financial

Gildan Activewear Inc. (TSE:GIL - Free Report) NYSE: GIL - Investment analysts at National Bank Financial increased their Q1 2024 earnings estimates for Gildan Activewear in a research note issued to investors on Monday, April 15th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings of $0.74 per share for the quarter, up from their prior forecast of $0.72. The consensus estimate for Gildan Activewear's current full-year earnings is $4.01 per share. National Bank Financial also issued estimates for Gildan Activewear's Q2 2024 earnings at $1.13 EPS and Q3 2024 earnings at $1.20 EPS.

Gildan Activewear (TSE:GIL - Get Free Report) NYSE: GIL last released its quarterly earnings data on Wednesday, February 21st. The company reported C$1.02 EPS for the quarter, topping analysts' consensus estimates of C$0.99 by C$0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 27.79%. The firm had revenue of C$1.07 billion during the quarter, compared to analysts' expectations of C$1.02 billion.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their target price on shares of Gildan Activewear from C$39.00 to C$41.00 and gave the company an "outperform" rating in a research report on Thursday, February 22nd. National Bankshares boosted their target price on shares of Gildan Activewear from C$52.00 to C$58.00 and gave the company an "outperform" rating in a research report on Wednesday, March 20th. Finally, Desjardins boosted their target price on shares of Gildan Activewear from C$53.00 to C$55.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$47.00.

Gildan Activewear Stock Performance

GIL stock traded down C$0.12 during midday trading on Thursday, reaching C$48.36. 301,708 shares of the company were exchanged, compared to its average volume of 342,900. The company has a debt-to-equity ratio of 55.97, a current ratio of 2.33 and a quick ratio of 0.87. The business has a 50-day moving average price of C$48.04 and a two-hundred day moving average price of C$45.41. Gildan Activewear has a one year low of C$36.42 and a one year high of C$52.80. The firm has a market capitalization of C$8.16 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 2.70 and a beta of 1.62.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Monday, April 8th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, March 12th. This is an increase from Gildan Activewear's previous quarterly dividend of $0.19. Gildan Activewear's payout ratio is 26.70%.

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.