$763.85 Million in Sales Expected for Gildan Activewear Inc (GIL) This Quarter

Equities research analysts forecast that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will post $763.85 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Gildan Activewear’s earnings. The lowest sales estimate is $754.00 million and the highest is $773.70 million. Gildan Activewear reported sales of $716.40 million during the same quarter last year, which indicates a positive year over year growth rate of 6.6%. The business is expected to report its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Gildan Activewear will report full year sales of $2.88 billion for the current financial year, with estimates ranging from $2.86 billion to $2.89 billion. For the next year, analysts anticipate that the firm will report sales of $3.01 billion, with estimates ranging from $2.99 billion to $3.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Gildan Activewear.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, August 2nd. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. Gildan Activewear had a return on equity of 18.53% and a net margin of 12.51%. The company had revenue of $764.20 million for the quarter, compared to the consensus estimate of $728.72 million. During the same period last year, the business posted $0.48 EPS. The company’s revenue was up 6.8% on a year-over-year basis.

Several brokerages have weighed in on GIL. ValuEngine upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. TheStreet upgraded Gildan Activewear from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. Zacks Investment Research upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. TD Securities lifted their target price on Gildan Activewear from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, Royal Bank of Canada lifted their target price on Gildan Activewear from $32.00 to $33.00 and gave the company a “sector perform” rating in a research note on Friday, August 3rd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Gildan Activewear presently has an average rating of “Hold” and a consensus price target of $33.00.

Shares of GIL stock opened at $29.29 on Monday. Gildan Activewear has a twelve month low of $25.33 and a twelve month high of $34.19. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 1.38 and a beta of 0.79. The company has a current ratio of 5.06, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Thursday, August 16th were issued a $0.112 dividend. The ex-dividend date was Wednesday, August 15th. This represents a $0.45 annualized dividend and a dividend yield of 1.53%. Gildan Activewear’s dividend payout ratio is currently 26.16%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Global X Management Co LLC lifted its holdings in shares of Gildan Activewear by 145.3% in the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after buying an additional 3,785 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in shares of Gildan Activewear in the 2nd quarter valued at approximately $250,000. Allianz Asset Management GmbH acquired a new stake in shares of Gildan Activewear in the 1st quarter valued at approximately $208,000. Lester Murray Antman dba SimplyRich acquired a new stake in shares of Gildan Activewear in the 2nd quarter valued at approximately $205,000. Finally, Jane Street Group LLC acquired a new stake in shares of Gildan Activewear in the 2nd quarter valued at approximately $221,000. 70.80% of the stock is owned by institutional investors and hedge funds.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

Featured Article: Fiduciary

Get a free copy of the Zacks research report on Gildan Activewear (GIL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Gildan Activewear (NYSE:GIL)

Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply