Desjardins Raises Earnings Estimates for Gildan Activewear

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Desjardins lifted their Q3 2024 earnings per share (EPS) estimates for Gildan Activewear in a research report issued on Thursday, October 24th. Desjardins analyst C. Li now expects that the company will post earnings per share of $1.16 for the quarter, up from their prior forecast of $1.15. Desjardins currently has a “Buy” rating and a $67.00 target price on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.55 per share. Desjardins also issued estimates for Gildan Activewear’s FY2025 earnings at $4.69 EPS.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The company reported C$1.01 EPS for the quarter, topping analysts’ consensus estimates of C$0.99 by C$0.02. Gildan Activewear had a net margin of 13.01% and a return on equity of 21.95%. The firm had revenue of C$1.18 billion during the quarter, compared to analysts’ expectations of C$1.17 billion.

Several other brokerages also recently issued reports on GIL. TD Securities raised their price objective on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Citigroup increased their target price on Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. National Bankshares boosted their price target on Gildan Activewear from C$58.00 to C$68.00 in a research note on Wednesday, October 9th. Finally, BMO Capital Markets raised Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$56.00.

Gildan Activewear Stock Performance

TSE GIL opened at C$67.64 on Monday. Gildan Activewear has a 52-week low of C$38.21 and a 52-week high of C$68.05. The stock has a market cap of C$11.00 billion, a PE ratio of 20.54, a P/E/G ratio of 4.55 and a beta of 1.64. The firm has a 50-day moving average of C$62.27 and a 200-day moving average of C$55.02. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35.

Insider Transactions at Gildan Activewear

In related news, Senior Officer Rhodri Harries sold 32,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. In other Gildan Activewear news, Senior Officer Rhodri Harries sold 32,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. Also, Senior Officer Benito Masi sold 50,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$41.55, for a total value of C$2,077,495.00. In the last three months, insiders have sold 101,620 shares of company stock valued at $4,870,471. 2.26% of the stock is owned by corporate insiders.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is presently 33.94%.

About Gildan Activewear

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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.