Scotiabank Predicts Stronger Earnings for Gildan Activewear

Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) – Scotiabank boosted their FY2027 EPS estimates for shares of Gildan Activewear in a research report issued to clients and investors on Tuesday, August 4th. Scotiabank analyst J. Zamparo now anticipates that the textile maker will post earnings per share of $5.57 for the year, up from their previous estimate of $5.15. Scotiabank currently has a “Sector Outperform” rating and a $67.00 target price on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.68 per share.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, July 30th. The textile maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.61 billion. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The company’s revenue for the quarter was up 72.3% on a year-over-year basis. During the same quarter last year, the business posted $0.97 earnings per share.

A number of other equities analysts have also recently commented on GIL. TD Securities reiterated a “buy” rating on shares of Gildan Activewear in a research report on Tuesday, June 16th. Citigroup reissued a “neutral” rating on shares of Gildan Activewear in a research note on Tuesday. UBS Group increased their target price on Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada restated an “outperform” rating and set a $82.00 price target (up from $78.00) on shares of Gildan Activewear in a research report on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Gildan Activewear in a research note on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Gildan Activewear currently has an average rating of “Moderate Buy” and a consensus price target of $79.07.

Gildan Activewear Trading Up 2.4%

GIL stock opened at $58.12 on Thursday. The company has a market capitalization of $10.76 billion, a PE ratio of 111.77 and a beta of 1.11. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.01 and a current ratio of 1.93. Gildan Activewear has a one year low of $46.00 and a one year high of $73.69. The company’s 50 day moving average price is $54.28 and its two-hundred day moving average price is $59.30.

Gildan Activewear Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Thursday, August 20th will be issued a dividend of $0.249 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, August 20th. Gildan Activewear’s payout ratio is currently 192.31%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC increased its stake in shares of Gildan Activewear by 0.9% during the first quarter. Janus Henderson Group PLC now owns 10,593,203 shares of the textile maker’s stock valued at $589,508,000 after buying an additional 98,134 shares during the period. Vanguard Group Inc. lifted its stake in Gildan Activewear by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 7,566,962 shares of the textile maker’s stock worth $472,964,000 after acquiring an additional 1,561,729 shares during the period. Royal Bank of Canada boosted its holdings in Gildan Activewear by 20.9% in the first quarter. Royal Bank of Canada now owns 6,911,589 shares of the textile maker’s stock valued at $384,629,000 after acquiring an additional 1,193,718 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Gildan Activewear by 41.2% in the fourth quarter. Mackenzie Financial Corp now owns 6,860,108 shares of the textile maker’s stock valued at $429,382,000 after acquiring an additional 2,001,279 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Gildan Activewear by 15.7% in the first quarter. The Manufacturers Life Insurance Company now owns 6,706,078 shares of the textile maker’s stock valued at $373,122,000 after acquiring an additional 909,001 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

Gildan Activewear Company Profile

Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.

Since its founding in 1984 by Glenn J.