Gildan Activewear (TSE:GIL) Releases Earnings Results

Gildan Activewear (TSE:GIL) (NYSE:GIL) announced its quarterly earnings results on Thursday. The company reported C$1.82 EPS for the quarter, FiscalAI reports. Gildan Activewear had a net margin of 6.14% and a return on equity of 10.08%. The firm had revenue of C$1.13 billion for the quarter.

Gildan Activewear Stock Up 2.1%

GIL stock opened at C$73.37 on Friday. The company has a fifty day moving average price of C$76.52 and a 200 day moving average price of C$82.21. Gildan Activewear has a 12 month low of C$63.41 and a 12 month high of C$100.44. The company has a market cap of C$13.59 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 4.55 and a beta of 1.50. The company has a debt-to-equity ratio of 147.07, a current ratio of 2.35 and a quick ratio of 0.87.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a $0.249 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $1.00 annualized dividend and a yield of 1.4%. Gildan Activewear’s dividend payout ratio is 54.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Desjardins set a C$108.00 price objective on Gildan Activewear and gave the stock a “buy” rating in a report on Tuesday. National Bank Financial upped their target price on Gildan Activewear from C$100.00 to C$101.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus target price of C$88.00.

Insiders Place Their Bets

In other Gildan Activewear news, Director Deepak Kumar Khandelwal acquired 5,000 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average cost of C$79.80 per share, with a total value of C$399,000.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately C$399,000. This trade represents a ∞ increase in their position. 2.26% of the stock is currently owned by corporate insiders.

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. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.