Gildan Activewear Inc. (TSE:GIL) Receives C$88.00 Consensus Price Target from Analysts

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) have earned a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$89.50.

GIL has been the subject of a number of recent analyst reports. Desjardins set a C$108.00 price objective on shares of Gildan Activewear and gave the stock a “buy” rating in a research report on Tuesday, July 28th. National Bank Financial boosted their target price on Gildan Activewear from C$105.00 to C$107.00 and gave the stock an “outperform” rating in a research note on Friday.

Gildan Activewear Price Performance

GIL opened at C$77.60 on Tuesday. The company has a debt-to-equity ratio of 145.29, a current ratio of 1.93 and a quick ratio of 0.87. The company has a market capitalization of C$14.37 billion, a price-to-earnings ratio of 45.92, a P/E/G ratio of 4.55 and a beta of 1.50. The firm’s fifty day moving average price is C$76.47 and its two-hundred day moving average price is C$82.18. Gildan Activewear has a 1 year low of C$63.41 and a 1 year high of C$100.44.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its earnings results on Thursday, July 30th. The company reported C$1.82 earnings per share (EPS) for the quarter. Gildan Activewear had a net margin of 1.33% and a return on equity of 2.12%. The firm had revenue of C$1.13 billion during the quarter. As a group, analysts anticipate that Gildan Activewear will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a $0.249 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $1.00 annualized dividend and a yield of 1.3%. Gildan Activewear’s payout ratio is currently 54.85%.

Key Stories Impacting Gildan Activewear

Here are the key news stories impacting Gildan Activewear this week:

• Positive Sentiment: National Bank Financial raised its price target on Gildan from C$105 to C$107 and upgraded its stance to “outperform,” implying substantial potential upside. BayStreet.CA analyst rating report
• Positive Sentiment: Desjardins set a C$108 price target, adding to the evidence that analysts view the recent weakness in GIL as an attractive entry point. Desjardins price target report
• Positive Sentiment: Although reported quarterly results included a US$50 million loss, adjusted or underlying net earnings reportedly increased 32% year over year. The company also raised its profit outlook, which appears to be outweighing concerns about the headline loss. Gildan Activewear Q2 net earnings report
• Neutral Sentiment: Gildan reported quarterly revenue of approximately C$1.13 billion and EPS of C$1.82 in the company’s earnings release, providing a significant focus for investors assessing the strength of demand and margins. Gildan Q2 earnings snapshot
• Negative Sentiment: The company narrowed its full-year revenue outlook, while the reported quarterly loss could reinforce concerns about one-time costs and near-term operating performance. MarketWatch Gildan earnings report

Insiders Place Their Bets

In other Gildan Activewear news, Director Deepak Kumar Khandelwal acquired 5,000 shares of Gildan Activewear stock in a transaction on Monday, May 11th. The stock was purchased at an average price of C$79.80 per share, for a total transaction of C$399,000.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at C$399,000. This trade represents a ∞ increase in their ownership of the stock. Corporate insiders own 2.26% of the company’s stock.

Gildan Activewear Company Profile

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.