FY2018 EPS Estimates for Gildan Activewear Inc (GIL) Reduced by Desjardins
Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) – Desjardins decreased their FY2018 earnings estimates for shares of Gildan Activewear in a research note issued to investors on Friday. Desjardins analyst K. Howlett now forecasts that the company will post earnings of $2.39 per share for the year, down from their prior forecast of $2.41.
Several other research analysts have also weighed in on GIL. BMO Capital Markets cut their price objective on shares of Gildan Activewear from C$34.00 to C$30.00 and set a “market perform” rating on the stock in a report on Friday. National Bank Financial lowered shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from C$40.00 to C$41.00 in a report on Friday, August 4th. TD Securities lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating and set a C$41.50 price objective on the stock. in a report on Friday, August 4th. Canaccord Genuity lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Royal Bank Of Canada lowered shares of Gildan Activewear from an “outperform” rating to a “sector perform” rating and set a C$40.00 price objective on the stock. in a report on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Gildan Activewear presently has an average rating of “Hold” and a consensus price target of C$39.58.
Shares of Gildan Activewear (TSE GIL) traded up C$0.03 during mid-day trading on Monday, hitting C$37.06. 283,639 shares of the stock traded hands, compared to its average volume of 631,893. Gildan Activewear has a 1-year low of C$30.97 and a 1-year high of C$42.18.
In related news, insider Jonathan Roiter sold 14,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of C$37.53, for a total value of C$544,185.00. Also, insider Eric Ralph Lehman sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of C$30.19, for a total transaction of C$754,750.00. Insiders sold 227,300 shares of company stock worth $8,567,256 in the last 90 days.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be issued a $0.121 dividend. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, November 15th. This represents a $0.48 annualized dividend and a yield of 1.31%.
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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