Gildan Activewear Inc (GIL) Releases Earnings Results, Misses Expectations By $0.16 EPS
Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) released its quarterly earnings results on Thursday. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by $0.16, RTT News reports. Gildan Activewear had a return on equity of 15.91% and a net margin of 12.55%. During the same period last year, the firm posted $0.41 earnings per share.
Shares of Gildan Activewear (TSE:GIL) traded down 0.18% during midday trading on Thursday, reaching $37.79. The company’s stock had a trading volume of 661,094 shares. The stock’s 50 day moving average is $39.40 and its 200 day moving average is $36.71. The stock has a market capitalization of $8.51 billion and a PE ratio of 23.99. Gildan Activewear has a 12 month low of $30.97 and a 12 month high of $42.18.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.0935 per share. This represents a $0.37 dividend on an annualized basis and a yield of 0.99%.
GIL has been the topic of a number of research reports. Royal Bank Of Canada upped their price target on Gildan Activewear from C$39.00 to C$40.50 and gave the stock an “outperform” rating in a report on Monday, April 24th. TD Securities restated a “buy” rating and issued a C$42.00 price target on shares of Gildan Activewear in a report on Thursday, April 27th. Desjardins upped their price target on Gildan Activewear from C$38.00 to C$42.00 in a report on Thursday, May 4th. Scotiabank upped their price target on Gildan Activewear from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, May 4th. Finally, DA Davidson restated a “neutral” rating on shares of Gildan Activewear in a report on Thursday, May 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of C$41.60.
In other Gildan Activewear news, insider Benito Masi sold 10,000 shares of Gildan Activewear stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of C$36.26, for a total value of C$362,600.00. Also, Director Anthony Frank Corsano sold 32,347 shares of Gildan Activewear stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of C$28.48, for a total transaction of C$921,242.56.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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