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.
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