Desjardins Has Optimistic Outlook of TSE:GIL FY2024 Earnings

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Desjardins boosted their FY2024 earnings per share estimates for Gildan Activewear in a report issued on Thursday, October 31st. Desjardins analyst C. Li now forecasts that the company will post earnings of $4.11 per share for the year, up from their prior forecast of $4.10. Desjardins currently has a “Buy” rating and a $67.00 price target 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 $4.71 EPS.

A number of other research firms also recently commented on GIL. National Bankshares boosted their target price on Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. TD Securities upped their price objective on Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Citigroup upped their price objective on Gildan Activewear from C$44.00 to C$54.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$57.20.

Gildan Activewear Stock Down 1.5 %

GIL opened at C$68.25 on Monday. The business’s fifty day moving average is C$63.31 and its two-hundred day moving average is C$55.67. The company has a debt-to-equity ratio of 72.52, a quick ratio of 0.87 and a current ratio of 2.35. The company has a market cap of C$11.10 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 4.55 and a beta of 1.64. Gildan Activewear has a one year low of C$41.32 and a one year high of C$69.66.

Insider Activity at Gildan Activewear

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 32,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$61.20, for a total transaction of C$1,989,000.00. In related news, Director Michener Chandlee bought 1,196 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of C$40.85 per share, for a total transaction of C$48,856.60. Also, Senior Officer Rhodri Harries sold 32,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$61.20, for a total value of C$1,989,000.00. Over the last ninety days, insiders sold 101,620 shares of company stock worth $4,870,471. 2.26% of the stock is currently owned by insiders.

Gildan Activewear Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be paid a $0.205 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.82 annualized dividend and a yield of 1.20%. Gildan Activewear’s payout ratio is currently 33.94%.

Gildan Activewear Company Profile

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.