Q1 2024 EPS Estimates for Gildan Activewear Inc. Boosted by Analyst (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Analysts at National Bank Financial increased their Q1 2024 earnings per share (EPS) estimates for shares of Gildan Activewear in a research note issued to investors on Monday, April 15th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $0.74 per share for the quarter, up from their previous forecast of $0.72. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.01 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q2 2024 earnings at $1.13 EPS and Q3 2024 earnings at $1.20 EPS.

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

Other research analysts also recently issued reports about the company. National Bankshares increased their target price on Gildan Activewear from C$52.00 to C$58.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Royal Bank of Canada increased their price target 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. Finally, Desjardins increased their price target on Gildan Activewear from C$53.00 to C$55.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$47.00.

Gildan Activewear Stock Down 0.2 %

TSE GIL opened at C$48.36 on Thursday. The company has a debt-to-equity ratio of 55.97, a quick ratio of 0.87 and a current ratio of 2.33. The company has a market capitalization of C$8.16 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.70 and a beta of 1.62. Gildan Activewear has a one year low of C$36.42 and a one year high of C$52.80. The stock has a 50 day moving average price of C$48.10 and a 200-day moving average price of C$45.43.

Gildan Activewear Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Monday, April 8th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.19. Gildan Activewear’s dividend payout ratio 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.