Gildan Activewear Inc. (TSE:GIL) Increases Dividend to $0.23 Per Share

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) declared a quarterly dividend on Wednesday, March 12th, TickerTech Dividends reports. Investors of record on Monday, April 7th will be paid a dividend of 0.226 per share on Monday, April 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a 10.2% increase from Gildan Activewear’s previous quarterly dividend of $0.21.

Gildan Activewear Price Performance

TSE:GIL opened at C$71.17 on Monday. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. Gildan Activewear has a 52 week low of C$44.23 and a 52 week high of C$79.11. The firm’s 50-day simple moving average is C$72.70 and its 200 day simple moving average is C$67.87. The firm has a market cap of C$7.73 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 4.55 and a beta of 1.64.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its quarterly earnings data on Wednesday, February 19th. The company reported C$0.83 EPS for the quarter, beating the consensus estimate of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, sell-side analysts predict that Gildan Activewear will post 4.5460385 earnings per share for the current year.

Insider Transactions at Gildan Activewear

In other Gildan Activewear news, Senior Officer Michael Schroeder sold 4,299 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of C$78.02, for a total value of C$335,428.68. Also, Senior Officer Rhodri Harries sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of C$78.08, for a total value of C$7,808,000.00. In the last three months, insiders sold 118,483 shares of company stock worth $9,147,454. 2.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on GIL shares. Desjardins upped their target price on Gildan Activewear from C$82.00 to C$87.00 and gave the company a “buy” rating in a report on Thursday, February 20th. UBS Group raised Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. Finally, National Bankshares increased their price objective on Gildan Activewear from C$78.00 to C$83.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Buy” and a consensus price target of C$68.50.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.