Analysts Issue Forecasts for Gildan Activewear Inc.’s Q1 2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Research analysts at National Bank Financial lifted their Q1 2024 EPS estimates for shares of Gildan Activewear in a research note issued on Monday, April 15th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings of $0.74 per share for the quarter, up from their prior estimate 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 released its earnings results on Wednesday, February 21st. The company reported C$1.02 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.03. Gildan Activewear had a net margin of 16.70% and a return on equity of 27.79%. The company had revenue of C$1.07 billion for the quarter, compared to analysts’ expectations of C$1.02 billion.

Other analysts also recently issued reports about the stock. Royal Bank of Canada lifted their price target on shares of Gildan Activewear from C$39.00 to C$41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. National Bankshares boosted 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 report on Wednesday, March 20th. Finally, Desjardins boosted their target price on shares of Gildan Activewear from C$53.00 to C$55.00 and gave the stock a “buy” 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$47.00.

Gildan Activewear Stock Performance

Shares of TSE GIL opened at C$48.48 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 cap of C$8.18 billion, a P/E ratio of 11.77, a P/E/G ratio of 2.70 and a beta of 1.62. The firm’s fifty day moving average is C$48.04 and its two-hundred day moving average is C$45.41. Gildan Activewear has a 52-week low of C$36.42 and a 52-week high of C$52.80.

Gildan Activewear Increases Dividend

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