$0.35 Earnings Per Share Expected for Gildan Activewear Inc (GIL) This Quarter
Analysts forecast that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will announce earnings per share of $0.35 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Gildan Activewear’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.36. Gildan Activewear posted earnings per share of $0.28 in the same quarter last year, which would indicate a positive year over year growth rate of 25%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, May 3rd.
According to Zacks, analysts expect that Gildan Activewear will report full-year earnings of $1.66 per share for the current financial year, with EPS estimates ranging from $1.63 to $1.70. For the next financial year, analysts expect that the company will report earnings of $1.87 per share, with EPS estimates ranging from $1.77 to $2.03. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Gildan Activewear.
Gildan Activewear (NYSE:GIL) last issued its earnings results on Thursday, February 23rd. The textile maker reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. The firm had revenue of $587.90 million for the quarter, compared to analyst estimates of $604.14 million. Gildan Activewear had a return on equity of 16.67% and a net margin of 13.38%. Gildan Activewear’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share.
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Several research analysts have weighed in on GIL shares. Royal Bank of Canada reiterated a “buy” rating and issued a $30.00 target price on shares of Gildan Activewear in a research note on Friday, February 3rd. Zacks Investment Research upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Wednesday, January 11th. Finally, Brean Capital reiterated a “hold” rating on shares of Gildan Activewear in a research note on Wednesday, January 11th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $36.00.
Several hedge funds have recently bought and sold shares of GIL. Ameriprise Financial Inc. increased its stake in Gildan Activewear by 23.1% in the third quarter. Ameriprise Financial Inc. now owns 410,659 shares of the textile maker’s stock worth $11,469,000 after buying an additional 76,954 shares during the period. Canada Pension Plan Investment Board increased its stake in Gildan Activewear by 63.7% in the third quarter. Canada Pension Plan Investment Board now owns 259,828 shares of the textile maker’s stock worth $7,244,000 after buying an additional 101,100 shares during the period. Cidel Asset Management Inc. increased its stake in Gildan Activewear by 36.0% in the third quarter. Cidel Asset Management Inc. now owns 1,003,528 shares of the textile maker’s stock worth $28,032,000 after buying an additional 265,694 shares during the period. Bank of New York Mellon Corp increased its stake in Gildan Activewear by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 321,399 shares of the textile maker’s stock worth $8,984,000 after buying an additional 5,044 shares during the period. Finally, USS Investment Management Ltd increased its stake in Gildan Activewear by 52.9% in the third quarter. USS Investment Management Ltd now owns 4,008,498 shares of the textile maker’s stock worth $112,112,000 after buying an additional 1,386,358 shares during the period. Hedge funds and other institutional investors own 73.45% of the company’s stock.
Shares of Gildan Activewear (NYSE:GIL) opened at 27.51 on Thursday. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 18.71 and a beta of 1.14. Gildan Activewear has a 12 month low of $23.55 and a 12 month high of $32.20. The company has a 50-day moving average price of $26.34 and a 200-day moving average price of $26.13.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Thursday, March 9th were paid a $0.094 dividend. The ex-dividend date of this dividend was Tuesday, March 7th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.37%. Gildan Activewear’s dividend payout ratio (DPR) is presently 21.68%.
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Gildan Activewear Company Profile
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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