National Bank Financial Weighs in on Gildan Activewear, Inc.’s Q4 2017 Earnings (GIL)
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) – Equities researchers at National Bank Financial boosted their Q4 2017 EPS estimates for shares of Gildan Activewear in a report released on Wednesday. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will post earnings per share of $0.29 for the quarter, up from their previous estimate of $0.28. National Bank Financial has a “Sector Perform” rating on the stock.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Friday. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 target price on shares of Gildan Activewear in a research report on Friday, October 20th. Finally, TD Securities downgraded Gildan Activewear from a “buy” rating to a “hold” rating and boosted their target price for the stock from $32.00 to $33.00 in a research report on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $35.29.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $715.40 million for the quarter, compared to the consensus estimate of $753.85 million. Gildan Activewear had a net margin of 14.16% and a return on equity of 18.65%. Gildan Activewear’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share.
Hedge funds have recently modified their holdings of the business. Tobam raised its position in Gildan Activewear by 17.0% during the second quarter. Tobam now owns 126,700 shares of the textile maker’s stock valued at $3,888,000 after purchasing an additional 18,400 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Gildan Activewear during the first quarter valued at approximately $696,000. Paloma Partners Management Co raised its position in Gildan Activewear by 67.3% during the first quarter. Paloma Partners Management Co now owns 15,100 shares of the textile maker’s stock valued at $408,000 after purchasing an additional 6,074 shares during the period. AGF Investments Inc. raised its position in Gildan Activewear by 8,373.2% during the second quarter. AGF Investments Inc. now owns 543,472 shares of the textile maker’s stock valued at $16,710,000 after purchasing an additional 537,058 shares during the period. Finally, Scotia Capital Inc. raised its position in Gildan Activewear by 81.6% during the second quarter. Scotia Capital Inc. now owns 162,895 shares of the textile maker’s stock valued at $5,000,000 after purchasing an additional 73,211 shares during the period. Institutional investors and hedge funds own 72.70% of the company’s stock.
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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