Gildan Activewear (GIL) Set to Announce Quarterly Earnings on Wednesday

Gildan Activewear (NYSE:GIL) (TSE:GIL) is set to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.52 per share for the quarter. Gildan Activewear has set its FY 2024 guidance at 2.920-3.070 EPS and its FY24 guidance at $2.92-3.07 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $782.70 million during the quarter, compared to the consensus estimate of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. On average, analysts expect Gildan Activewear to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Gildan Activewear Price Performance

Gildan Activewear stock opened at $35.44 on Tuesday. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.34 and a beta of 1.38. Gildan Activewear has a 52-week low of $26.98 and a 52-week high of $38.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. The stock’s 50 day moving average price is $35.59 and its two-hundred day moving average price is $33.93.

Gildan Activewear Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Wednesday, March 13th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Tuesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.19. Gildan Activewear’s payout ratio is presently 27.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. UBS Group downgraded Gildan Activewear from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $37.00 in a report on Friday, January 5th. TD Securities upped their target price on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Scotiabank lifted their price target on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. Finally, Citigroup boosted their price target on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

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.