Gildan Activewear (NYSE:GIL) Issues FY 2019 Earnings Guidance

Gildan Activewear (NYSE:GIL) (TSE:GIL) updated its FY 2019 earnings guidance on Thursday. The company provided EPS guidance of $1.65-1.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.97. Gildan Activewear also updated its Q3 2019 guidance to $0.53-0.53 EPS.

Several brokerages recently commented on GIL. TD Securities reduced their target price on Gildan Activewear from $45.00 to $44.00 and set a buy rating on the stock in a report on Thursday. ValuEngine cut Gildan Activewear from a buy rating to a hold rating in a report on Tuesday, August 6th. Desjardins upgraded Gildan Activewear from a hold rating to a buy rating in a report on Friday, August 2nd. Citigroup upped their target price on Gildan Activewear from $37.00 to $40.00 and gave the company a neutral rating in a report on Friday, August 2nd. Finally, Zacks Investment Research cut Gildan Activewear from a buy rating to a hold rating in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Gildan Activewear presently has an average rating of Buy and an average target price of $34.50.

GIL traded down $0.02 during trading on Thursday, hitting $35.26. The company’s stock had a trading volume of 224,866 shares, compared to its average volume of 473,123. Gildan Activewear has a twelve month low of $28.81 and a twelve month high of $40.40. The company has a quick ratio of 1.68, a current ratio of 4.33 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average price is $35.94 and its 200-day moving average price is $37.25. The firm has a market capitalization of $7.19 billion, a P/E ratio of 18.96, a PEG ratio of 1.18 and a beta of 0.85.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. Gildan Activewear had a return on equity of 18.48% and a net margin of 10.14%. The firm had revenue of $801.60 million for the quarter, compared to analyst estimates of $793.91 million. During the same period in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Gildan Activewear will post 1.98 EPS for the current fiscal year.

Gildan Activewear Company Profile

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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Earnings History and Estimates for Gildan Activewear (NYSE:GIL)

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