Q3 2016 EPS Estimates for Gildan Activewear Inc. Decreased by DA Davidson (GIL)
Gildan Activewear Inc. (NYSE:GIL) – Equities researchers at DA Davidson cut their Q3 2016 earnings per share estimates for Gildan Activewear in a research note issued to investors on Wednesday. DA Davidson analyst A. Burns now anticipates that the firm will post earnings per share of $0.51 for the quarter, down from their previous estimate of $0.52. DA Davidson also issued estimates for Gildan Activewear’s FY2016 earnings at $1.51 EPS.
A number of other research analysts have also weighed in on GIL. Brean Capital reaffirmed a “hold” rating on shares of Gildan Activewear in a research note on Thursday, July 28th. Desjardins reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Gildan Activewear in a research note on Thursday, July 28th. TD Securities reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Gildan Activewear in a research note on Thursday, July 28th. Scotiabank reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Gildan Activewear in a research note on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.71.
Gildan Activewear (NYSE:GIL) traded down 0.40% during mid-day trading on Friday, reaching $27.17. 96,297 shares of the company’s stock were exchanged. Gildan Activewear has a 52-week low of $22.43 and a 52-week high of $32.20. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 18.91 and a beta of 0.98. The company has a 50-day moving average of $28.42 and a 200-day moving average of $29.55.
Gildan Activewear (NYSE:GIL) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. The business earned $689 million during the quarter, compared to the consensus estimate of $697.92 million. Gildan Activewear had a net margin of 13.94% and a return on equity of 17.19%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Gildan Activewear by 51.3% in the second quarter. Vanguard Group Inc. now owns 5,970,012 shares of the company’s stock valued at $175,100,000 after buying an additional 2,022,986 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Gildan Activewear during the second quarter valued at $43,870,000. Canada Pension Plan Investment Board increased its position in Gildan Activewear by 1,892.0% in the first quarter. Canada Pension Plan Investment Board now owns 948,265 shares of the company’s stock valued at $29,032,000 after buying an additional 900,661 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Gildan Activewear during the second quarter worth approximately $18,711,000. Finally, 1832 Asset Management L.P. raised its position in Gildan Activewear by 29.4% in the first quarter. 1832 Asset Management L.P. now owns 2,757,330 shares of the company’s stock worth $135,563,000 after buying an additional 626,007 shares during the period. Hedge funds and other institutional investors own 72.64% of the company’s stock.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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