Gildan Activewear Receives “Fair Value” Rating from Janney Montgomery Scott (GIL)
Gildan Activewear (NYSE:GIL)‘s stock had its “fair value” rating reiterated by stock analysts at Janney Montgomery Scott in a report issued on Friday. They currently have a $54.00 target price on the stock, up from their previous target price of $52.00. Janney Montgomery Scott’s price target would indicate a potential downside of 8.21% from the company’s current price.
Shares of Gildan Activewear (NYSE:GIL) traded up 0.46% during mid-day trading on Friday, hitting $58.83. 237,668 shares of the company’s stock traded hands. Gildan Activewear has a 52 week low of $43.26 and a 52 week high of $62.52. The stock’s 50-day moving average is $58.76 and its 200-day moving average is $53.65. The company has a market cap of $7.193 billion and a price-to-earnings ratio of 21.62.
Gildan Activewear (NYSE:GIL) last released its earnings data 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 will post $3.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 8th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.108 per share. This represents a $0.43 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, August 12th.
A number of other firms have also recently commented on GIL. Analysts at CIBC raised their price target on shares of Gildan Activewear from $62.00 to $67.00 in a research note on Friday. Separately, analysts at National Bank Financial raised their price target on shares of Gildan Activewear from C$70.00 to C$72.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at DA Davidson upgraded shares of Gildan Activewear from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $68.00 price target on the stock, up previously from $61.00. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Gildan Activewear has a consensus rating of “Buy” and a consensus target price of $68.31.
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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