Analysts Anticipate Gildan Activewear, Inc. (GIL) Will Post Earnings of $0.48 Per Share
Analysts expect Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) to announce earnings per share of $0.48 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Gildan Activewear’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.46. Gildan Activewear posted earnings of $0.41 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 17.1%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, August 3rd.
On average, analysts expect that Gildan Activewear will report full year earnings of $1.69 per share for the current financial year, with EPS estimates ranging from $1.67 to $1.72. For the next fiscal year, analysts anticipate that the business will post earnings of $1.86 per share, with EPS estimates ranging from $1.81 to $1.93. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Gildan Activewear.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, May 3rd. The textile maker reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $665.40 million during the quarter, compared to analyst estimates of $664.37 million. Gildan Activewear had a net margin of 13.81% and a return on equity of 18.09%.
GIL has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on Gildan Activewear from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, April 24th. Zacks Investment Research lowered Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. TD Securities reissued a “buy” rating and issued a $31.00 target price on shares of Gildan Activewear in a research report on Thursday, April 27th. Finally, TheStreet lowered Gildan Activewear from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $35.63.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank increased its position in shares of Gildan Activewear by 8.1% in the fourth quarter. Comerica Bank now owns 13,523 shares of the textile maker’s stock valued at $335,000 after buying an additional 1,013 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Gildan Activewear during the first quarter valued at approximately $696,000. Nationwide Fund Advisors acquired a new position in shares of Gildan Activewear during the first quarter valued at approximately $1,801,000. World Asset Management Inc increased its position in shares of Gildan Activewear by 0.7% in the first quarter. World Asset Management Inc now owns 14,512 shares of the textile maker’s stock valued at $392,000 after buying an additional 105 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Gildan Activewear by 3.2% in the first quarter. Bank of Nova Scotia now owns 609,690 shares of the textile maker’s stock valued at $16,473,000 after buying an additional 18,815 shares in the last quarter. 77.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gildan Activewear (NYSE GIL) traded up 0.89% during mid-day trading on Wednesday, hitting $30.72. 287,135 shares of the company were exchanged. The stock’s 50-day moving average price is $30.60 and its 200 day moving average price is $27.58. Gildan Activewear has a 12-month low of $23.55 and a 12-month high of $31.83. The stock has a market cap of $6.92 billion, a PE ratio of 19.50 and a beta of 0.73.
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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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