Analysts forecast that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will report $0.49 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Gildan Activewear’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.50. Gildan Activewear also posted earnings of $0.49 per share in the same quarter last year. The business is scheduled to issue its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Gildan Activewear will report full year earnings of $1.87 per share for the current year, with EPS estimates ranging from $1.82 to $1.89. For the next fiscal year, analysts forecast that the firm will post earnings of $2.08 per share, with EPS estimates ranging from $2.05 to $2.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Gildan Activewear.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, May 2nd. The textile maker reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). Gildan Activewear had a return on equity of 18.06% and a net margin of 12.69%. The business had revenue of $647.30 million during the quarter, compared to the consensus estimate of $654.39 million. During the same period last year, the business posted $0.39 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis.
Several research firms have recently weighed in on GIL. Royal Bank of Canada set a $32.00 price objective on Gildan Activewear and gave the stock a “hold” rating in a research report on Wednesday, February 14th. ValuEngine lowered Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Zacks Investment Research raised Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. DA Davidson set a $32.00 price objective on Gildan Activewear and gave the stock a “hold” rating in a research report on Tuesday, March 6th. Finally, TD Securities raised Gildan Activewear from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $35.00 in a research report on Thursday, May 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.89.
Institutional investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new stake in Gildan Activewear in the 4th quarter valued at about $219,000. Allianz Asset Management GmbH bought a new stake in Gildan Activewear in the 1st quarter valued at about $208,000. MML Investors Services LLC bought a new stake in Gildan Activewear in the 4th quarter valued at about $261,000. River Road Asset Management LLC bought a new stake in Gildan Activewear in the 4th quarter valued at about $289,000. Finally, Stifel Financial Corp increased its position in Gildan Activewear by 36.9% in the 1st quarter. Stifel Financial Corp now owns 9,002 shares of the textile maker’s stock valued at $261,000 after buying an additional 2,425 shares in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.
Shares of Gildan Activewear traded down $0.24, hitting $28.67, during mid-day trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 208,353 shares, compared to its average volume of 361,757. Gildan Activewear has a 52 week low of $27.89 and a 52 week high of $34.19. The company has a current ratio of 5.06, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.19 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.36 and a beta of 0.85.
Gildan Activewear announced that its Board of Directors has approved a share repurchase plan on Thursday, February 22nd that permits the company to repurchase 10,960,000 shares. This repurchase authorization permits the textile maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Thursday, May 17th will be given a $0.112 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, May 16th. Gildan Activewear’s payout ratio is 26.16%.
Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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