Gildan Activewear Inc. (TSE:GIL) Increases Dividend to $0.23 Per Share

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) announced a quarterly dividend on Wednesday, March 12th, TickerTech Dividends reports. Shareholders of record on Monday, April 7th will be paid a dividend of 0.226 per share on Monday, April 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a 10.2% increase from Gildan Activewear’s previous quarterly dividend of $0.21.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock opened at C$71.17 on Monday. The firm has a market cap of C$7.73 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. Gildan Activewear has a 12-month low of C$44.23 and a 12-month high of C$79.11. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26. The company’s fifty day simple moving average is C$72.70 and its two-hundred day simple moving average is C$67.87.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same period last year, the firm posted $0.75 EPS. As a group, equities analysts expect that Gildan Activewear will post 4.5460385 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on GIL shares. National Bankshares lifted their price target on shares of Gildan Activewear from C$78.00 to C$83.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Desjardins lifted their target price on shares of Gildan Activewear from C$82.00 to C$87.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, UBS Group raised shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$68.50.

Insider Activity at Gildan Activewear

In other Gildan Activewear news, Senior Officer Benito Masi sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of C$69.31, for a total value of C$693,102.00. Also, Senior Officer Michael Schroeder sold 4,299 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of C$78.02, for a total transaction of C$335,428.68. Over the last ninety days, insiders sold 118,483 shares of company stock worth $9,147,454. 2.26% of the stock is owned by company insiders.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.