Gildan Activewear (TSE:GIL) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Gildan Activewear (TSE:GIL) (NYSE:GIL) posted its quarterly earnings results on Wednesday. The company reported C$0.83 earnings per share for the quarter, topping the consensus estimate of C$0.82 by C$0.01, RTT News reports. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%. During the same period in the prior year, the company posted $0.75 EPS.

Gildan Activewear Trading Up 1.8 %

Shares of GIL stock opened at C$78.09 on Friday. The stock’s 50-day moving average price is C$70.98 and its 200-day moving average price is C$66.23. The company has a current ratio of 2.31, a quick ratio of 0.87 and a debt-to-equity ratio of 101.26. Gildan Activewear has a 12-month low of C$44.23 and a 12-month high of C$78.12. The stock has a market capitalization of C$8.48 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64.

Insiders Place Their Bets

In other Gildan Activewear news, Senior Officer Benito Masi sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total transaction of C$693,102.00. 2.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GIL has been the topic of several analyst reports. Desjardins upped their price objective on Gildan Activewear from C$82.00 to C$87.00 and gave the company a “buy” rating in a research report on Thursday. National Bankshares upped their price objective on Gildan Activewear from C$78.00 to C$83.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, UBS Group raised Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$63.00.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.