Gildan Activewear (TSE:GIL) Sets New 1-Year High – Here’s Why

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$87.04 and last traded at C$85.39, with a volume of 241437 shares trading hands. The stock had previously closed at C$82.61.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup lowered Gildan Activewear from a “buy” rating to a “neutral” rating and lifted their target price for the stock from C$60.00 to C$63.00 in a report on Monday, October 20th. TD Securities upped their price target on Gildan Activewear from C$73.00 to C$74.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, National Bankshares lifted their price objective on Gildan Activewear from C$91.00 to C$92.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Gildan Activewear presently has a consensus rating of “Buy” and an average target price of C$77.25.

Gildan Activewear Price Performance

The stock has a market capitalization of C$15.85 billion, a P/E ratio of 27.52, a PEG ratio of 4.55 and a beta of 1.45. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The firm has a fifty day moving average price of C$81.89 and a two-hundred day moving average price of C$75.54.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings data on Wednesday, October 29th. The company reported C$1.00 EPS for the quarter. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%.The company had revenue of C$1.27 billion during the quarter. As a group, analysts expect that Gildan Activewear Inc. will post 4.5460385 EPS for the current fiscal year.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.226 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.90 annualized dividend and a dividend yield of 1.1%. Gildan Activewear’s dividend payout ratio is presently 28.39%.

About Gildan Activewear

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies.