National Bank Financial Brokers Boost Earnings Estimates for Gildan Activewear Inc. (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – National Bank Financial increased their Q1 2024 earnings estimates for Gildan Activewear in a report issued on Monday, April 15th. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will post earnings of $0.54 per share for the quarter, up from their previous estimate of $0.53. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share.

Other research analysts have also recently issued research reports about the company. TD Securities upped their target price on Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Citigroup boosted their price objective on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. CIBC boosted their price target on Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Scotiabank raised their price objective on Gildan Activewear from $39.50 to $40.50 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. Finally, Stifel Nicolaus increased their price target on Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Gildan Activewear Price Performance

GIL stock opened at $35.21 on Thursday. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. Gildan Activewear has a 12 month low of $26.98 and a 12 month high of $38.87. The stock has a market cap of $5.93 billion, a PE ratio of 11.62, a P/E/G ratio of 1.33 and a beta of 1.38. The company has a 50-day moving average price of $35.48 and a 200 day moving average price of $33.57.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $782.70 million during the quarter, compared to analysts’ expectations of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were issued a $0.205 dividend. This is a boost 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 2.33%. The ex-dividend date of this dividend was Tuesday, March 12th. Gildan Activewear’s dividend payout ratio (DPR) is currently 27.06%.

Hedge Funds Weigh In On Gildan Activewear

Several institutional investors and hedge funds have recently bought and sold shares of GIL. American Century Companies Inc. boosted its stake in Gildan Activewear by 38.6% in the 1st quarter. American Century Companies Inc. now owns 41,005 shares of the textile maker’s stock worth $1,538,000 after purchasing an additional 11,413 shares in the last quarter. Citigroup Inc. raised its stake in shares of Gildan Activewear by 41.5% in the first quarter. Citigroup Inc. now owns 32,700 shares of the textile maker’s stock worth $1,227,000 after purchasing an additional 9,597 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Gildan Activewear by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock valued at $127,000 after buying an additional 896 shares during the last quarter. Natixis Advisors L.P. increased its holdings in Gildan Activewear by 35.8% in the 1st quarter. Natixis Advisors L.P. now owns 19,786 shares of the textile maker’s stock worth $742,000 after buying an additional 5,212 shares during the period. Finally, Synovus Financial Corp lifted its stake in Gildan Activewear by 29.4% during the 1st quarter. Synovus Financial Corp now owns 33,700 shares of the textile maker’s stock valued at $1,268,000 after acquiring an additional 7,662 shares during the period. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.