National Bank Financial Comments on Gildan Activewear Inc.’s Q3 2024 Earnings (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities research analysts at National Bank Financial lifted their Q3 2024 earnings estimates for Gildan Activewear in a research note issued on Tuesday, October 8th. National Bank Financial analyst V. Shreedhar now expects that the textile maker will earn $0.84 per share for the quarter, up from their previous estimate of $0.83. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.92 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q4 2024 earnings at $0.78 EPS, FY2024 earnings at $2.95 EPS, Q3 2025 earnings at $0.95 EPS and Q4 2025 earnings at $0.86 EPS.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business had revenue of $862.20 million during the quarter, compared to the consensus estimate of $851.10 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis.

GIL has been the subject of several other research reports. Royal Bank of Canada upped their price target on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets increased their target price on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $44.77.

Gildan Activewear Trading Up 2.0 %

NYSE GIL opened at $47.64 on Friday. The company has a market cap of $7.89 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.81 and a beta of 1.43. Gildan Activewear has a 12 month low of $27.24 and a 12 month high of $47.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 0.97. The company has a 50-day moving average of $44.46 and a 200-day moving average of $39.61.

Institutional Investors Weigh In On Gildan Activewear

A number of large investors have recently modified their holdings of GIL. Browning West LP grew its position in Gildan Activewear by 30.0% in the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after acquiring an additional 1,994,900 shares in the last quarter. Goodnow Investment Group LLC increased its stake in Gildan Activewear by 0.6% during the 4th quarter. Goodnow Investment Group LLC now owns 296,742 shares of the textile maker’s stock worth $9,810,000 after buying an additional 1,902 shares during the period. Parkwood LLC purchased a new stake in Gildan Activewear during the 4th quarter worth $6,789,000. Onex Canada Asset Management Inc. lifted its holdings in Gildan Activewear by 231.9% in the 4th quarter. Onex Canada Asset Management Inc. now owns 216,728 shares of the textile maker’s stock worth $7,165,000 after buying an additional 151,428 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Gildan Activewear by 4.8% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 102,200 shares of the textile maker’s stock valued at $3,379,000 after buying an additional 4,700 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

Gildan Activewear Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s payout ratio is 27.70%.

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.