Desjardins Boosts Gildan Activewear (TSE:GIL) Price Target to C$63.00

Gildan Activewear (TSE:GIL) (NYSE:GIL) had its target price lifted by Desjardins from C$55.00 to C$63.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock. Desjardins also issued estimates for Gildan Activewear’s Q2 2024 earnings at $0.99 EPS, Q3 2024 earnings at $1.15 EPS, Q4 2024 earnings at $1.13 EPS, FY2024 earnings at $4.07 EPS and FY2025 earnings at $4.64 EPS.

Separately, National Bankshares cut their price target on shares of Gildan Activewear from C$58.00 to C$57.00 and set an outperform rating on the stock in a research note on Friday, May 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Gildan Activewear currently has an average rating of Moderate Buy and an average price target of C$48.83.

Gildan Activewear Stock Performance

Gildan Activewear has a 1 year low of C$36.42 and a 1 year high of C$58.00. The stock’s 50-day moving average price is C$52.76 and its 200 day moving average price is C$49.07. The firm has a market capitalization of C$9.66 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 3.54 and a beta of 1.63. The company has a debt-to-equity ratio of 64.76, a quick ratio of 0.87 and a current ratio of 2.38.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its earnings results on Wednesday, May 1st. The company reported C$0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.08. The firm had revenue of C$938.04 million for the quarter, compared to analyst estimates of C$956.47 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 26.88%. As a group, equities analysts predict that Gildan Activewear will post 4.0599002 EPS for the current year.

Gildan Activewear Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of ∞. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is presently 28.04%.

Insider Activity at Gildan Activewear

In related news, Senior Officer Rhodri Harries sold 28,698 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of C$39.00, for a total transaction of C$1,119,222.00. In other Gildan Activewear news, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of C$37.06, for a total transaction of C$161,200.13. Also, Senior Officer Rhodri Harries sold 28,698 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of C$39.00, for a total transaction of C$1,119,222.00. Company insiders own 2.17% of the company’s stock.

Gildan Activewear Company Profile

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.