Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) – Investment analysts at Desjardins issued their Q3 2020 EPS estimates for shares of Gildan Activewear in a research report issued to clients and investors on Saturday, November 30th. Desjardins analyst C. Li forecasts that the textile maker will earn $0.65 per share for the quarter. Desjardins currently has a “Buy” rating and a $42.00 target price on the stock. Desjardins also issued estimates for Gildan Activewear’s Q4 2020 earnings at $0.55 EPS, FY2021 earnings at $2.16 EPS and FY2022 earnings at $2.43 EPS.
GIL has been the topic of several other reports. Edward Jones cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada decreased their price objective on shares of Gildan Activewear from $36.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, October 18th. Zacks Investment Research downgraded shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Bank of America lowered shares of Gildan Activewear from a “buy” rating to an “underperform” rating and set a $23.00 target price on the stock. in a research note on Friday, October 18th. Finally, CIBC set a $30.00 price target on shares of Gildan Activewear and gave the stock a “hold” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $31.40.
Gildan Activewear stock opened at $28.95 on Tuesday. Gildan Activewear has a 52 week low of $23.45 and a 52 week high of $40.40. The company has a current ratio of 4.18, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The stock has a market cap of $5.93 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.83. The stock has a 50 day moving average of $27.86 and a 200-day moving average of $35.00.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. Gildan Activewear had a return on equity of 17.94% and a net margin of 9.87%. The firm had revenue of $739.70 million during the quarter, compared to the consensus estimate of $739.86 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. Gildan Activewear’s revenue for the quarter was down 1.9% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.134 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.54 annualized dividend and a yield of 1.85%. Gildan Activewear’s payout ratio is 29.03%.
A number of hedge funds have recently added to or reduced their stakes in the business. Quest Capital Management Inc. ADV acquired a new position in shares of Gildan Activewear in the 3rd quarter valued at about $98,000. Commonwealth Bank of Australia raised its stake in Gildan Activewear by 28.1% during the second quarter. Commonwealth Bank of Australia now owns 2,595 shares of the textile maker’s stock worth $99,000 after acquiring an additional 569 shares during the period. Neuburgh Advisers LLC lifted its holdings in Gildan Activewear by 11.4% in the second quarter. Neuburgh Advisers LLC now owns 3,744 shares of the textile maker’s stock worth $139,000 after acquiring an additional 384 shares during the last quarter. Bartlett & Co. LLC lifted its holdings in Gildan Activewear by 77.5% in the third quarter. Bartlett & Co. LLC now owns 3,905 shares of the textile maker’s stock worth $139,000 after acquiring an additional 1,705 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Gildan Activewear by 997.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,598 shares of the textile maker’s stock worth $140,000 after acquiring an additional 3,270 shares during the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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