Q3 EPS Estimates for Gildan Activewear Boosted by Desjardins

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities research analysts at Desjardins increased their Q3 2024 earnings per share estimates for shares of Gildan Activewear in a report released on Thursday, October 24th. Desjardins analyst C. Li now anticipates that the textile maker will earn $0.84 per share for the quarter, up from their prior estimate of $0.83. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.93 per share. Desjardins also issued estimates for Gildan Activewear’s FY2024 earnings at $2.97 EPS and FY2025 earnings at $3.40 EPS.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. TD Securities boosted their price objective on Gildan Activewear from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Stifel Nicolaus lifted their target price on Gildan Activewear from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets upped their price target on Gildan Activewear from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Gildan Activewear has an average rating of “Moderate Buy” and an average target price of $45.68.

Gildan Activewear Stock Performance

Shares of GIL stock opened at $48.07 on Monday. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $45.82 and a two-hundred day simple moving average of $40.46. Gildan Activewear has a 12 month low of $27.24 and a 12 month high of $48.51. The firm has a market capitalization of $7.96 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.78 and a beta of 1.43.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The firm 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 company posted $0.63 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis.

Gildan Activewear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Thursday, August 22nd. Gildan Activewear’s dividend payout ratio is presently 27.70%.

Hedge Funds Weigh In On Gildan Activewear

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale raised its holdings in shares of Gildan Activewear by 41.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 73,619 shares of the textile maker’s stock worth $3,401,000 after purchasing an additional 21,553 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Gildan Activewear during the 3rd quarter valued at $216,000. Arkadios Wealth Advisors purchased a new position in shares of Gildan Activewear during the 3rd quarter valued at $212,000. Legacy Wealth Asset Management LLC bought a new position in shares of Gildan Activewear during the 3rd quarter worth $284,000. Finally, Fortis Group Advisors LLC increased its holdings in Gildan Activewear by 3.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 6,601 shares of the textile maker’s stock worth $311,000 after acquiring an additional 246 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.