Gildan Activewear (TSE:GIL) Reaches New 12-Month High – Here’s What Happened

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$98.63 and last traded at C$97.70, with a volume of 183278 shares trading hands. The stock had previously closed at C$98.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup lowered Gildan Activewear from a “buy” rating to a “neutral” rating and raised their price objective for the company from C$60.00 to C$63.00 in a research report on Monday, October 20th. Desjardins set a C$95.00 price target on Gildan Activewear and gave the company a “buy” rating in a research note on Friday, December 19th. TD Securities raised their price target on Gildan Activewear from C$74.00 to C$77.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, National Bankshares lifted their price objective on Gildan Activewear from C$91.00 to C$92.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$81.75.

Gildan Activewear Stock Down 0.5%

The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26. The company has a 50 day simple moving average of C$87.36 and a two-hundred day simple moving average of C$81.64. The company has a market capitalization of C$18.11 billion, a P/E ratio of 31.46, a PEG ratio of 4.55 and a beta of 1.41.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its earnings results on Wednesday, October 29th. The company reported C$1.00 EPS for the quarter. The firm had revenue of C$1.27 billion during the quarter. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%. As a group, equities analysts predict that Gildan Activewear Inc. will post 4.5460385 EPS for the current year.

Gildan Activewear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.226 per share. The ex-dividend date was Wednesday, November 19th. This represents a $0.90 dividend on an annualized basis and a yield of 0.9%. Gildan Activewear’s payout ratio is 28.39%.

About Gildan Activewear

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.