Gildan Activewear (NYSE:GIL) Updates FY 2024 Earnings Guidance

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. TD Securities increased their target price on Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus increased their target price on Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. CIBC increased their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Citigroup increased their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.05.

Gildan Activewear Stock Performance

GIL stock opened at $49.66 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.97 and a current ratio of 2.35. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.85 and a beta of 1.44. Gildan Activewear has a 1 year low of $28.95 and a 1 year high of $49.92. The stock’s fifty day moving average is $46.45 and its two-hundred day moving average is $40.90.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The company had revenue of $891.10 million for the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a return on equity of 25.66% and a net margin of 13.06%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.74 earnings per share. On average, research analysts predict that Gildan Activewear will post 2.93 EPS for the current year.

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be paid a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, November 21st. Gildan Activewear’s payout ratio is 32.41%.

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.