Gildan Activewear, Inc. (GIL) Releases Earnings Results, Beats Estimates By $0.02 EPS
Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) announced its quarterly earnings results on Thursday. The textile maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02, Briefing.com reports. The company had revenue of $716.40 million during the quarter, compared to analysts’ expectations of $748.86 million. Gildan Activewear had a return on equity of 18.73% and a net margin of 14.21%. Gildan Activewear’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. Gildan Activewear updated its FY17 guidance to $1.70-1.72 EPS.
Gildan Activewear (GIL) traded down $0.35 during mid-day trading on Friday, hitting $28.95. The stock had a trading volume of 1,180,899 shares, compared to its average volume of 509,820. The stock has a market capitalization of $6.55 billion, a P/E ratio of 16.87 and a beta of 0.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be given a $0.094 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Wednesday, November 15th. Gildan Activewear’s dividend payout ratio (DPR) is presently 22.02%.
Several research analysts recently issued reports on GIL shares. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 target price on shares of Gildan Activewear in a research report on Friday, October 20th. Zacks Investment Research raised Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Tuesday, August 29th. Royal Bank Of Canada lowered Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a $31.00 target price for the company. in a research report on Tuesday, July 11th. Finally, Macquarie started coverage on Gildan Activewear in a research report on Wednesday. They set a “neutral” rating for the company. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.71.
About Gildan Activewear
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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