Gildan Activewear Inc. (NYSE:GIL) to Post Q1 2024 Earnings of $0.54 Per Share, National Bank Financial Forecasts

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at National Bank Financial lifted their Q1 2024 earnings estimates for Gildan Activewear in a research note issued to investors on Monday, April 15th. National Bank Financial analyst V. Shreedhar now expects that the textile maker will post earnings of $0.54 per share for the quarter, up from their prior estimate of $0.53. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share.

GIL has been the topic of several other reports. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, February 22nd. Citigroup upped their price objective on shares of Gildan Activewear from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, February 23rd. UBS Group downgraded shares of Gildan Activewear from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $37.00 in a report on Friday, January 5th. TD Securities upped their price objective on shares of Gildan Activewear from $42.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 price objective on shares of Gildan Activewear in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.25.

Gildan Activewear Price Performance

Shares of GIL opened at $35.23 on Thursday. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.34 and a beta of 1.38. Gildan Activewear has a 1-year low of $26.98 and a 1-year high of $38.87. The company’s fifty day simple moving average is $35.44 and its 200 day simple moving average is $33.50. The company has a current ratio of 2.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, February 21st. The textile maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $782.70 million for the quarter, compared to the consensus estimate of $753.35 million. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Wednesday, March 13th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Tuesday, March 12th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.19. Gildan Activewear’s payout ratio is presently 27.06%.

Institutional Investors Weigh In On Gildan Activewear

A number of institutional investors have recently modified their holdings of GIL. Norges Bank bought a new stake in shares of Gildan Activewear in the fourth quarter valued at about $70,917,000. Browning West LP lifted its position in Gildan Activewear by 30.0% during the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock worth $285,653,000 after purchasing an additional 1,994,900 shares during the period. BlackRock Inc. lifted its position in Gildan Activewear by 115.5% during the first quarter. BlackRock Inc. now owns 2,602,095 shares of the textile maker’s stock worth $86,364,000 after purchasing an additional 1,394,775 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Gildan Activewear during the fourth quarter worth about $34,456,000. Finally, The Manufacturers Life Insurance Company lifted its position in Gildan Activewear by 85.0% during the first quarter. The Manufacturers Life Insurance Company now owns 2,191,716 shares of the textile maker’s stock worth $82,339,000 after purchasing an additional 1,007,107 shares during the period. Institutional investors own 82.83% of the company’s stock.

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, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.