Gildan Activewear Inc. (NYSE:GIL – Get Free Report) (TSE:GIL) announced a quarterly dividend on Wednesday, November 1st, NASDAQ reports. Stockholders of record on Wednesday, November 22nd will be paid a dividend of 0.186 per share by the textile maker on Monday, December 18th. This represents a $0.74 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Tuesday, November 21st.
Gildan Activewear has raised its dividend by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Gildan Activewear has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Gildan Activewear to earn $2.92 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 25.3%.
Gildan Activewear Stock Performance
Shares of GIL opened at $35.73 on Monday. The firm has a market cap of $6.15 billion, a PE ratio of 13.69, a P/E/G ratio of 1.55 and a beta of 1.31. The company has a current ratio of 2.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $29.69 and a 200-day moving average price of $30.07. Gildan Activewear has a 12 month low of $26.30 and a 12 month high of $36.00.
Institutional Investors Weigh In On Gildan Activewear
Analysts Set New Price Targets
A number of brokerages recently issued reports on GIL. Stifel Nicolaus raised their target price on Gildan Activewear from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. BMO Capital Markets reduced their target price on Gildan Activewear from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Citigroup reduced their target price on Gildan Activewear from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Scotiabank raised their target price on Gildan Activewear from $36.50 to $39.50 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Finally, TD Securities lifted their price objective on Gildan Activewear from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Gildan Activewear currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.77.
About Gildan Activewear
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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