DA Davidson Research Analysts Decrease Earnings Estimates for Gildan Activewear Inc. (GIL)
Gildan Activewear Inc. (NYSE:GIL) – Equities researchers at DA Davidson dropped their FY2017 earnings per share estimates for shares of Gildan Activewear in a research report issued to clients and investors on Wednesday. DA Davidson analyst A. Burns now anticipates that the firm will post earnings of $1.76 per share for the year, down from their prior estimate of $1.78.
A number of other brokerages have also recently weighed in on GIL. RBC Capital Markets restated an “outperform” rating and issued a $45.00 price objective on shares of Gildan Activewear in a report on Wednesday, July 20th. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Thursday, July 21st. Raymond James Financial Inc. reiterated a “strong-buy” rating and set a $35.00 price target on shares of Gildan Activewear in a report on Thursday, July 21st. Desjardins reiterated a “buy” rating on shares of Gildan Activewear in a report on Thursday, July 7th. Finally, TD Securities reiterated a “buy” rating and set a $36.00 price target on shares of Gildan Activewear in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $36.71.
Shares of Gildan Activewear (NYSE:GIL) opened at 27.11 on Monday. Gildan Activewear has a 1-year low of $22.43 and a 1-year high of $32.20. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 18.87 and a beta of 0.99. The stock has a 50 day moving average of $28.35 and a 200-day moving average of $29.53.
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Gildan Activewear (NYSE:GIL) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. The company earned $689 million during the quarter, compared to analysts’ expectations of $697.92 million. Gildan Activewear had a return on equity of 17.19% and a net margin of 13.94%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS.
Institutional investors have recently made changes to their positions in the company. Gulf International Bank UK Ltd increased its position in shares of Gildan Activewear by 0.6% in the third quarter. Gulf International Bank UK Ltd now owns 69,674 shares of the company’s stock worth $1,944,000 after buying an additional 400 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Gildan Activewear by 7.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 9,230 shares of the company’s stock worth $271,000 after buying an additional 600 shares during the last quarter. Stifel Financial Corp increased its position in shares of Gildan Activewear by 9.1% in the second quarter. Stifel Financial Corp now owns 11,255 shares of the company’s stock worth $330,000 after buying an additional 937 shares during the last quarter. World Asset Management Inc increased its position in shares of Gildan Activewear by 6.8% in the second quarter. World Asset Management Inc now owns 14,876 shares of the company’s stock worth $436,000 after buying an additional 945 shares during the last quarter. Finally, British Columbia Investment Management Corp increased its position in shares of Gildan Activewear by 3.2% in the third quarter. British Columbia Investment Management Corp now owns 35,700 shares of the company’s stock worth $759,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 72.64% of the company’s stock.
Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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