Gildan Activewear (GIL) Sets New 52-Week High Following Dividend Announcement

Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) hit a new 52-week high on Friday following a dividend announcement from the company. The company traded as high as C$41.81 and last traded at C$40.78, with a volume of 364293 shares trading hands. The stock had previously closed at C$39.97.

The newly announced dividend which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be paid a $0.112 dividend. This represents a $0.45 annualized dividend and a dividend yield of 1.10%.

A number of analysts have commented on GIL shares. Desjardins cut shares of Gildan Activewear from a “buy” rating to a “hold” rating and upped their price target for the company from C$41.50 to C$44.00 in a research report on Friday, August 3rd. National Bank Financial upped their price target on shares of Gildan Activewear from C$42.00 to C$43.00 and gave the company a “c$37.11” rating in a research report on Monday, July 23rd.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings data on Thursday, August 2nd. The company reported C$0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.63 by C$0.04. The firm had revenue of C$986.29 million during the quarter, compared to analyst estimates of C$946.47 million. Gildan Activewear had a net margin of 8.41% and a return on equity of 10.70%.

In other Gildan Activewear news, Director George Jason Heller sold 2,500 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of C$39.97, for a total value of C$99,925.00.

Gildan Activewear Company Profile (TSE:GIL)

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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