Gildan Activewear Inc. (NYSE:GIL) to Post FY2024 Earnings of $2.99 Per Share, National Bank Financial Forecasts

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of Gildan Activewear in a research report issued to clients and investors on Monday, April 15th. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will post earnings per share of $2.99 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.

A number of other research analysts also recently weighed in on GIL. Scotiabank raised their price objective on Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. CIBC raised their target price on Gildan Activewear from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. UBS Group lowered Gildan Activewear from a “buy” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $37.00 in a report on Friday, January 5th. Stifel Nicolaus raised their target price on Gildan Activewear from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Gildan Activewear currently has an average rating of “Moderate Buy” and an average price target of $41.25.

Gildan Activewear Stock Down 2.1 %

Shares of GIL stock opened at $35.23 on Wednesday. The stock’s 50 day simple moving average is $35.44 and its 200 day simple moving average is $33.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. Gildan Activewear has a twelve month low of $26.98 and a twelve month high of $38.87. The company has a market capitalization 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 (NYSE:GIL) (TSE:GIL) last posted its quarterly 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. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The company had revenue of $782.70 million during the quarter, compared to the consensus estimate of $753.35 million. During the same period last year, the business earned $0.65 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis.

Gildan Activewear Increases Dividend

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

Hedge Funds Weigh In On Gildan Activewear

Several hedge funds and other institutional investors have recently modified their holdings of GIL. Addenda Capital Inc. raised its position in Gildan Activewear by 0.4% in the 1st quarter. Addenda Capital Inc. now owns 212,701 shares of the textile maker’s stock valued at $7,898,000 after purchasing an additional 800 shares during the last quarter. Game Plan Financial Advisors LLC raised its position in Gildan Activewear by 101.7% in the 1st quarter. Game Plan Financial Advisors LLC now owns 64,268 shares of the textile maker’s stock valued at $2,386,000 after purchasing an additional 32,397 shares during the last quarter. Cooper Financial Group raised its position in Gildan Activewear by 9.7% in the 1st quarter. Cooper Financial Group now owns 20,830 shares of the textile maker’s stock valued at $773,000 after purchasing an additional 1,835 shares during the last quarter. Mather Group LLC. bought a new position in Gildan Activewear in the 1st quarter valued at $122,000. Finally, Quadrature Capital Ltd bought a new position in Gildan Activewear in the 4th quarter valued at $3,690,000. 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.