Research Analysts Issue Forecasts for Gildan Activewear Inc.’s Q2 2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Analysts at Desjardins boosted their Q2 2024 EPS estimates for Gildan Activewear in a report released on Tuesday, July 30th. Desjardins analyst C. Li now forecasts that the company will post earnings of $0.99 per share for the quarter, up from their previous estimate of $0.96. Desjardins has a “Buy” rating and a $63.00 price target on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.06 per share. Desjardins also issued estimates for Gildan Activewear’s Q3 2024 earnings at $1.15 EPS.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Wednesday, May 1st. The company reported C$0.80 earnings per share for the quarter, beating 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 analysts’ expectations of C$956.47 million. Gildan Activewear had a net margin of 16.14% and a return on equity of 26.88%.

A number of other research firms have also recently weighed in on GIL. TD Securities boosted their target price on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a research note on Friday. National Bankshares boosted their price target on shares of Gildan Activewear from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Gildan Activewear currently has an average rating of “Moderate Buy” and a consensus target price of C$48.83.

Gildan Activewear Price Performance

The company has a current ratio of 2.38, a quick ratio of 0.87 and a debt-to-equity ratio of 64.76. The stock has a market capitalization of C$9.66 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 3.54 and a beta of 1.63. Gildan Activewear has a 52 week low of C$36.42 and a 52 week high of C$58.00. The company has a fifty day moving average of C$52.76 and a 200-day moving average of C$49.07.

Insider Buying and Selling

In related news, Senior Officer Rhodri Harries sold 28,698 shares of the company’s stock in a transaction that occurred 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 related news, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the company’s stock in a transaction that occurred 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 company’s stock in a transaction that occurred 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. 2.17% of the stock is currently owned by insiders.

Gildan Activewear Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.12 annualized dividend and a dividend yield of ∞. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s payout ratio is 28.04%.

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.