National Bank Financial Weighs in on Gildan Activewear Inc.’s Q3 2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Equities researchers at National Bank Financial decreased their Q3 2024 earnings per share (EPS) estimates for Gildan Activewear in a research note issued to investors on Tuesday, October 8th. National Bank Financial analyst V. Shreedhar now forecasts that the company will earn $1.14 per share for the quarter, down from their previous forecast of $1.15. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.55 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q4 2024 earnings at $1.06 EPS, Q4 2025 earnings at $1.17 EPS and FY2026 earnings at $5.13 EPS.

A number of other research analysts also recently commented on the stock. National Bankshares increased their target price on shares of Gildan Activewear from C$58.00 to C$68.00 in a research report on Wednesday. BMO Capital Markets raised Gildan Activewear to a “strong-buy” rating in a report on Friday, August 2nd. TD Securities raised their price target on Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Desjardins boosted their price objective on Gildan Activewear from C$63.00 to C$67.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Citigroup raised their target price on shares of Gildan Activewear from C$44.00 to C$54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$56.00.

Gildan Activewear Stock Down 1.4 %

GIL stock opened at C$64.17 on Thursday. The stock has a market cap of C$10.43 billion, a P/E ratio of 19.62, a PEG ratio of 4.55 and a beta of 1.64. The company has a current ratio of 2.35, a quick ratio of 0.87 and a debt-to-equity ratio of 72.52. Gildan Activewear has a twelve month low of C$37.78 and a twelve month high of C$65.14. The company’s 50 day moving average is C$60.01 and its two-hundred day moving average is C$53.71.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its earnings results on Thursday, August 1st. The company reported C$1.01 earnings per share for the quarter, topping the consensus estimate of C$0.99 by C$0.02. The business had revenue of C$1.18 billion for the quarter, compared to analyst estimates of C$1.17 billion. Gildan Activewear had a return on equity of 21.95% and a net margin of 13.01%.

Insider Transactions at Gildan Activewear

In other Gildan Activewear news, Senior Officer Rhodri Harries sold 32,500 shares of the business’s stock in a transaction on 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. In related news, Senior Officer Rhodri Harries sold 32,500 shares of the firm’s 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. Also, Director Michener Chandlee acquired 1,196 shares of the stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of C$40.85 per share, for a total transaction of C$48,856.60. Insiders sold 101,620 shares of company stock worth $4,870,471 over the last 90 days. 2.26% of the stock is currently owned by insiders.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Thursday, August 22nd. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s dividend payout ratio is 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.