Gildan Activewear (NYSE:GIL) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) announced its earnings results on Thursday. The textile maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06, Briefing.com reports. Gildan Activewear had a net margin of 21.07% and a return on equity of 31.46%. The company had revenue of $895.60 million during the quarter, compared to the consensus estimate of $820.62 million. During the same period last year, the firm earned $0.68 earnings per share. Gildan Activewear’s revenue was up 19.9% compared to the same quarter last year.

Gildan Activewear Stock Up 0.3 %

Shares of GIL traded up $0.10 during trading hours on Friday, reaching $31.07. The company’s stock had a trading volume of 1,104,736 shares, compared to its average volume of 717,134. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 1.08 and a beta of 1.36. The company has a 50 day moving average of $28.85 and a two-hundred day moving average of $33.79. Gildan Activewear has a 1-year low of $25.67 and a 1-year high of $43.63. The company has a quick ratio of 1.54, a current ratio of 3.33 and a debt-to-equity ratio of 0.50.

Gildan Activewear Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Thursday, August 25th will be issued a $0.169 dividend. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.18%. Gildan Activewear’s dividend payout ratio is 20.30%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GIL shares. TD Securities raised their target price on shares of Gildan Activewear from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity Group cut their target price on shares of Gildan Activewear from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Royal Bank of Canada boosted their price target on shares of Gildan Activewear from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, May 5th. StockNews.com lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Gildan Activewear from $43.00 to $29.00 in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.13.

Institutional Investors Weigh In On Gildan Activewear

Several large investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its position in Gildan Activewear by 38.6% during the first quarter. American Century Companies Inc. now owns 41,005 shares of the textile maker’s stock worth $1,538,000 after purchasing an additional 11,413 shares during the period. Citigroup Inc. raised its stake in shares of Gildan Activewear by 41.5% in the first quarter. Citigroup Inc. now owns 32,700 shares of the textile maker’s stock valued at $1,227,000 after purchasing an additional 9,597 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Gildan Activewear by 36.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock valued at $127,000 after purchasing an additional 896 shares in the last quarter. Natixis Advisors L.P. raised its stake in Gildan Activewear by 35.8% during the first quarter. Natixis Advisors L.P. now owns 19,786 shares of the textile maker’s stock worth $742,000 after acquiring an additional 5,212 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in Gildan Activewear by 29.4% during the first quarter. Synovus Financial Corp now owns 33,700 shares of the textile maker’s stock worth $1,268,000 after acquiring an additional 7,662 shares in the last quarter. Institutional investors own 75.31% of the company’s stock.

Gildan Activewear Company Profile

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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, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.

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Earnings History for Gildan Activewear (NYSE:GIL)

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