Gildan Activewear (NYSE:GIL) Releases FY24 Earnings Guidance

Gildan Activewear (NYSE:GIL) (TSE:GIL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.97-3.02 for the period, compared to the consensus earnings per share estimate of $2.96. Gildan Activewear also updated its FY 2024 guidance to 2.970-3.020 EPS.

Analyst Upgrades and Downgrades

GIL has been the subject of a number of recent research reports. CIBC boosted their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada boosted their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. TD Securities upped their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday. Citigroup lifted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday. Finally, Canaccord Genuity Group increased their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Trading Up 1.6 %

NYSE:GIL traded up $0.76 during trading hours on Friday, hitting $49.66. The company had a trading volume of 531,424 shares, compared to its average volume of 709,643. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The stock has a 50-day moving average price of $46.45 and a 200 day moving average price of $40.90. The company has a market capitalization of $7.80 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43. Gildan Activewear has a 52 week low of $28.95 and a 52 week high of $49.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The firm had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. During the same period last year, the company posted $0.74 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that Gildan Activewear will post 2.93 EPS for the current fiscal year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.152 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.22%. Gildan Activewear’s dividend payout ratio (DPR) is 33.61%.

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.