DA Davidson Analysts Cut Earnings Estimates for Gildan Activewear Inc. (GIL)
Gildan Activewear Inc. (NYSE:GIL) – Research analysts at DA Davidson lowered their FY2017 EPS estimates for Gildan Activewear in a research report issued to clients and investors on Wednesday. DA Davidson analyst A. Burns now forecasts that the brokerage will post earnings per share of $1.76 for the year, down from their previous estimate of $1.78.
A number of other research analysts also recently issued reports on GIL. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Thursday, July 21st. Desjardins reiterated a “buy” rating on shares of Gildan Activewear in a research report on Thursday, July 7th. TD Securities reiterated a “buy” rating and set a $36.00 target price on shares of Gildan Activewear in a research report on Thursday, July 7th. Brean Capital reiterated a “hold” rating on shares of Gildan Activewear in a research report on Thursday, July 28th. Finally, Scotiabank reiterated an “outperform” rating and set a $44.00 target price on shares of Gildan Activewear in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Gildan Activewear has an average rating of “Buy” and a consensus price target of $36.68.
Shares of Gildan Activewear (NYSE:GIL) traded down 0.07% during midday trading on Monday, hitting $27.14. 107,312 shares of the stock traded hands. The firm has a 50-day moving average price of $28.19 and a 200-day moving average price of $29.47. Gildan Activewear has a 52 week low of $22.43 and a 52 week high of $32.20. The stock has a market capitalization of $6.29 billion, a P/E ratio of 18.89 and a beta of 0.98.
Gildan Activewear (NYSE:GIL) last posted its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm earned $689 million during the quarter, compared to analyst estimates of $697.92 million. Gildan Activewear had a return on equity of 17.19% and a net margin of 13.94%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share.
Institutional investors have recently made changes to their positions in the stock. CIBC World Markets Inc. raised its position in Gildan Activewear by 10.3% in the second quarter. CIBC World Markets Inc. now owns 282,437 shares of the company’s stock valued at $8,284,000 after buying an additional 26,293 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in Gildan Activewear by 7.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 9,230 shares of the company’s stock worth $271,000 after buying an additional 600 shares in the last quarter. Daiwa SB Investments Ltd. purchased a new stake in Gildan Activewear during the second quarter worth about $1,205,000. New England Research & Management Inc. purchased a new stake in Gildan Activewear during the second quarter worth about $285,000. Finally, Skyline Asset Management LP increased its stake in Gildan Activewear by 3.9% in the first quarter. Skyline Asset Management LP now owns 492,000 shares of the company’s stock worth $15,011,000 after buying an additional 18,400 shares in the last quarter. 72.64% of the stock is owned by institutional investors and hedge funds.
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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