Gildan Activewear, Inc. (GIL) Updates FY17 Earnings Guidance
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $1.70-1.72 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.69.
A number of research firms recently commented on GIL. Macquarie began coverage on Gildan Activewear in a research note on Wednesday. They issued a neutral rating on the stock. TD Securities lowered Gildan Activewear from a buy rating to a hold rating and lifted their price objective for the stock from $32.00 to $33.00 in a research note on Friday, August 4th. BMO Capital Markets reaffirmed a buy rating and issued a $34.00 price objective (up from $32.00) on shares of Gildan Activewear in a research note on Friday, August 4th. Zacks Investment Research raised Gildan Activewear from a hold rating to a buy rating and set a $35.00 price objective on the stock in a research note on Friday, October 27th. Finally, National Bank Financial lowered Gildan Activewear from an outperform rating to a sector perform rating in a research note on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Gildan Activewear has a consensus rating of Hold and an average target price of $35.29.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Gildan Activewear had a return on equity of 18.65% and a net margin of 14.16%. The business had revenue of $715.40 million during the quarter, compared to analysts’ expectations of $753.85 million. During the same quarter last year, the business posted $0.41 EPS. The business’s revenue was up 3.8% on a year-over-year basis.
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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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