Gildan Activewear Inc (GIL) Updates FY14 Earnings Guidance
Gildan Activewear Inc (NYSE:GIL) updated its FY14 earnings guidance on Thursday. The company provided EPS guidance of $3.00-3.03 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.07, Analyst Ratings Network.com reports. The company issued revenue guidance of slightly in excess of $2.4 billion, compared to the consensus revenue estimate of $2.42 billion.Gildan Activewear also updated its Q4 guidance to $1.06-1.09 EPS.
A number of analysts have recently weighed in on GIL shares. Analysts at RBC Capital upgraded shares of Gildan Activewear from a sector perform rating to an outperform rating in a research note on Friday, July 25th. On a related note, analysts at CSFB raised their price target on shares of Gildan Activewear from C$70.00 to C$75.00 in a research note on Wednesday, July 16th. They now have an outperform rating on the stock. Finally, analysts at TD Securities raised their price target on shares of Gildan Activewear from C$68.00 to C$71.00 in a research note on Friday, July 4th. They now have an action list buy rating on the stock. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Gildan Activewear has an average rating of Buy and a consensus price target of $67.14.
Shares of Gildan Activewear Inc (NYSE:GIL) opened at 58.90 on Thursday. Gildan Activewear Inc has a 52 week low of $43.26 and a 52 week high of $62.52. The stock has a 50-day moving average of $58.45 and a 200-day moving average of $53.58. The company has a market cap of $7.201 billion and a price-to-earnings ratio of 22.39.
Gildan Activewear (NYSE:GIL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by $0.01. The company had revenue of $693.80 million for the quarter, compared to the consensus estimate of $695.85 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that Gildan Activewear Inc will post $3.09 EPS for the current fiscal year.
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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