Gildan Activewear (TSE:GIL) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$81.55 and traded as low as C$78.08. Gildan Activewear shares last traded at C$78.75, with a volume of 369,938 shares.

Wall Street Analysts Forecast Growth

GIL has been the topic of a number of research reports. Desjardins set a C$108.00 price target on Gildan Activewear and gave the stock a “buy” rating in a research note on Tuesday, July 28th. National Bank Financial boosted their target price on shares of Gildan Activewear from C$105.00 to C$107.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$89.50.

Gildan Activewear Price Performance

The business has a 50 day simple moving average of C$76.04 and a 200-day simple moving average of C$81.55. The company has a debt-to-equity ratio of 145.29, a quick ratio of 0.87 and a current ratio of 1.93. The stock has a market cap of C$14.58 billion, a P/E ratio of 154.41, a P/E/G ratio of 4.55 and a beta of 1.51.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results on Thursday, July 30th. The company reported C$1.82 earnings per share (EPS) for the quarter. Gildan Activewear had a net margin of 1.33% and a return on equity of 2.12%. The company had revenue of C$1.13 billion during the quarter. On average, sell-side analysts forecast that Gildan Activewear Inc. will post 4.5460385 EPS for the current year.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 20th. Gildan Activewear’s payout ratio is presently 186.27%.

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.