Gildan Activewear (NYSE:GIL) Issues FY19 Earnings Guidance

Gildan Activewear (NYSE:GIL) (TSE:GIL) issued an update on its FY19 earnings guidance on Thursday morning. 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 FY 2019 guidance to $1.65-1.70 EPS.

Shares of GIL stock traded down $8.34 on Friday, hitting $27.04. 699,867 shares of the company’s stock traded hands, compared to its average volume of 418,303. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.68 and a current ratio of 4.33. Gildan Activewear has a one year low of $28.81 and a one year high of $40.40. The company’s fifty day simple moving average is $35.92 and its 200 day simple moving average is $37.25. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.21 and a beta of 0.85.

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

Several brokerages have weighed in on GIL. ValuEngine cut shares of Gildan Activewear from a buy rating to a hold rating in a research report on Tuesday, August 6th. Stifel Nicolaus cut shares of Gildan Activewear from a buy rating to a hold rating and dropped their price target for the company from $44.00 to $30.00 in a research report on Friday. Citigroup increased their price target on shares of Gildan Activewear from $37.00 to $40.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Zacks Investment Research cut shares of Gildan Activewear from a buy rating to a hold rating in a research report on Thursday, October 3rd. Finally, Bank of America cut shares of Gildan Activewear from a buy rating to an underperform rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $33.85.

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

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