Gildan Activewear Inc. to Post Q2 2024 Earnings of $0.96 Per Share, Desjardins Forecasts (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Desjardins decreased their Q2 2024 earnings per share estimates for shares of Gildan Activewear in a research note issued to investors on Thursday, May 2nd. Desjardins analyst C. Li now expects that the company will earn $0.96 per share for the quarter, down from their prior estimate of $1.03. Desjardins has a “Buy” rating and a $55.00 price target on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.01 per share. Desjardins also issued estimates for Gildan Activewear’s Q3 2024 earnings at $1.12 EPS and Q4 2024 earnings at $1.08 EPS.

A number of other equities analysts also recently commented on the stock. National Bankshares lifted their target price on shares of Gildan Activewear from C$52.00 to C$58.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Royal Bank of Canada upped their price objective on Gildan Activewear from C$39.00 to C$41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus price target of C$47.00.

Gildan Activewear Stock Down 0.9 %

GIL stock opened at C$44.79 on Monday. The company has a current ratio of 2.33, a quick ratio of 0.87 and a debt-to-equity ratio of 55.97. The firm has a 50-day moving average of C$48.24 and a two-hundred day moving average of C$46.25. The company has a market cap of C$7.55 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 2.70 and a beta of 1.62. Gildan Activewear has a 12 month low of C$36.42 and a 12 month high of C$52.80.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Wednesday, February 21st. The company reported C$1.02 earnings per share for the quarter, beating the consensus estimate of C$0.99 by C$0.03. Gildan Activewear had a return on equity of 27.79% and a net margin of 16.70%. The business had revenue of C$1.07 billion for the quarter, compared to the consensus estimate of C$1.02 billion.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.277 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.11 dividend on an annualized basis and a yield of 2.47%. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s dividend payout ratio (DPR) is presently 26.70%.

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.