Citigroup Inc. Reiterates “Hold” Rating for Gildan Activewear (GIL)
Gildan Activewear (NYSE:GIL)‘s stock had its “hold” rating reaffirmed by stock analysts at Citigroup Inc. in a report issued on Monday. They currently have a $63.00 target price on the stock, up from their previous target price of $59.00. Citigroup Inc.’s price objective suggests a potential upside of 16.67% from the stock’s previous close.
A number of other analysts have also recently weighed in on GIL. Analysts at CSFB initiated coverage on shares of Gildan Activewear in a research note on Tuesday, May 6th. They set an “outperform” rating and a C$70.00 price target on the stock. Separately, analysts at Industrial Alliance Securities upgraded shares of Gildan Activewear from a “strong-buy” rating to a “top pick” rating in a research note on Tuesday, May 6th. Finally, analysts at Credit Suisse initiated coverage on shares of Gildan Activewear in a research note on Tuesday, May 6th. They set an “outperform” rating and a $70.00 price target on the stock. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $64.13.
Gildan Activewear (NYSE:GIL) traded down 0.33% on Monday, hitting $53.82. 18,378 shares of the company’s stock traded hands. Gildan Activewear has a 52-week low of $38.32 and a 52-week high of $56.00. The stock has a 50-day moving average of $51.63 and a 200-day moving average of $51.03. The company has a market cap of $6.580 billion and a P/E ratio of 19.94.
Gildan Activewear (NYSE:GIL) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $548.80 million for the quarter, compared to the consensus estimate of $555.22 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that Gildan Activewear will post $3.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 9th. Investors of record on Thursday, May 15th will be paid a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Tuesday, May 13th.
Gildan Activewear Inc (NYSE:GIL) is a marketer and vertically-integrated global manufacturer of basic, non-fashion apparel products for customers.
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