Gildan Activewear Inc. (GIL) to Issue Quarterly Dividend of $0.17 on September 19th

Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Investors of record on Thursday, August 25th will be paid a dividend of 0.169 per share by the textile maker on Monday, September 19th. This represents a $0.68 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, August 24th.

Gildan Activewear has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gildan Activewear to earn $3.06 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.2%.

Gildan Activewear Trading Up 0.3 %

Shares of Gildan Activewear stock opened at $31.07 on Friday. The stock has a fifty day simple moving average of $28.85 and a 200 day simple moving average of $33.79. Gildan Activewear has a 12-month low of $25.67 and a 12-month high of $43.63. The company has a market capitalization of $5.68 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 1.14 and a beta of 1.36. The company has a current ratio of 3.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50.

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) last announced its quarterly earnings data on Thursday, August 4th. The textile maker reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $895.60 million during the quarter, compared to the consensus estimate of $820.62 million. Gildan Activewear had a return on equity of 32.40% and a net margin of 20.48%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. On average, sell-side analysts anticipate that Gildan Activewear will post 3.03 earnings per share for the current fiscal year.

Institutional Trading of Gildan Activewear

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in shares of Gildan Activewear by 36.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,381 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 896 shares in the last quarter. First Trust Advisors LP increased its position in shares of Gildan Activewear by 6.0% during the 1st quarter. First Trust Advisors LP now owns 49,923 shares of the textile maker’s stock valued at $1,872,000 after purchasing an additional 2,804 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Gildan Activewear by 2.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 172,200 shares of the textile maker’s stock valued at $6,464,000 after purchasing an additional 4,300 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Gildan Activewear by 35.8% during the 1st quarter. Natixis Advisors L.P. now owns 19,786 shares of the textile maker’s stock valued at $742,000 after purchasing an additional 5,212 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Gildan Activewear during the 1st quarter valued at about $292,000. Hedge funds and other institutional investors own 75.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group cut their price target on Gildan Activewear from $54.00 to $42.00 in a research note on Friday, July 15th. TD Securities increased their price target on Gildan Activewear from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada increased their price target on Gildan Activewear from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, May 5th. Desjardins dropped their price objective on Gildan Activewear from C$63.00 to C$55.00 in a report on Friday, May 6th. Finally, Canaccord Genuity Group increased their price objective on Gildan Activewear from $37.00 to $42.50 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.13.

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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Dividend History for Gildan Activewear (NYSE:GIL)

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