Gildan Activewear (NYSE:GIL) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) posted its quarterly earnings data on Thursday. The textile maker reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06, Briefing.com reports. The firm had revenue of $895.60 million during the quarter, compared to analysts’ expectations of $820.62 million. Gildan Activewear had a net margin of 20.48% and a return on equity of 32.40%. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS.

Gildan Activewear Stock Performance

NYSE GIL traded up $0.10 on Friday, reaching $31.07. The stock had a trading volume of 1,104,739 shares, compared to its average volume of 809,549. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 3.33. Gildan Activewear has a 12-month low of $25.67 and a 12-month high of $43.63. The business’s 50-day moving average price is $28.85 and its 200 day moving average price is $33.79. The stock has a market cap of $5.68 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 1.14 and a beta of 1.36.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Thursday, August 25th will be paid a $0.169 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Wednesday, August 24th. Gildan Activewear’s dividend payout ratio is currently 19.36%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. National Bank Financial dropped their price objective on Gildan Activewear from C$64.00 to C$42.00 in a research note on Tuesday, July 12th. StockNews.com downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. Desjardins dropped their target price on Gildan Activewear from C$63.00 to C$55.00 in a research report on Friday, May 6th. Royal Bank of Canada lifted their target price on Gildan Activewear from $51.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, May 5th. Finally, Canaccord Genuity Group dropped their target price on Gildan Activewear from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, May 5th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.13.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIL. American Century Companies Inc. lifted its stake in Gildan Activewear by 38.6% in the first quarter. American Century Companies Inc. now owns 41,005 shares of the textile maker’s stock valued at $1,538,000 after buying an additional 11,413 shares during the last quarter. Citigroup Inc. raised its stake in shares of Gildan Activewear by 41.5% during the first quarter. Citigroup Inc. now owns 32,700 shares of the textile maker’s stock worth $1,227,000 after purchasing an additional 9,597 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Gildan Activewear by 36.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock worth $127,000 after purchasing an additional 896 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Gildan Activewear by 35.8% during the first quarter. Natixis Advisors L.P. now owns 19,786 shares of the textile maker’s stock worth $742,000 after purchasing an additional 5,212 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Gildan Activewear by 29.4% during the first quarter. Synovus Financial Corp now owns 33,700 shares of the textile maker’s stock worth $1,268,000 after purchasing an additional 7,662 shares during the last quarter. Hedge funds and other institutional investors own 75.31% of the company’s stock.

Gildan Activewear Company Profile

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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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

See Also

Earnings History for Gildan Activewear (NYSE:GIL)

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