FY2024 EPS Estimates for Gildan Activewear Inc. Raised by National Bank Financial (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities research analysts at National Bank Financial raised their FY2024 earnings per share estimates for Gildan Activewear in a research report issued on Monday, April 15th. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will earn $2.99 per share for the year, up from their prior forecast of $2.98. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q1 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.97 EPS and FY2025 earnings at $3.28 EPS.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $782.70 million during the quarter, compared to analysts’ expectations of $753.35 million. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. Gildan Activewear’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share.

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

Gildan Activewear Stock Down 0.2 %

Gildan Activewear stock opened at $35.13 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. The stock has a fifty day moving average of $35.46 and a 200 day moving average of $33.51. The stock has a market cap of $5.92 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.36 and a beta of 1.38. Gildan Activewear has a one year low of $26.98 and a one year high of $38.87.

Gildan Activewear Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its stake in Gildan Activewear by 86.5% during the 4th quarter. CWM LLC now owns 1,074 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 498 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in Gildan Activewear during the 3rd quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its stake in Gildan Activewear by 120.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,646 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 900 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Gildan Activewear by 529.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 1,863 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Gildan Activewear during the 1st quarter valued at about $84,000. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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.