Gildan Activewear Inc (GIL) Expected to Announce Earnings of $0.31 Per Share

Wall Street brokerages expect that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will report earnings of $0.31 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Gildan Activewear’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.30. Gildan Activewear reported earnings of $0.32 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.1%. The company is expected to report its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Gildan Activewear will report full-year earnings of $1.71 per share for the current year, with EPS estimates ranging from $1.70 to $1.72. For the next financial year, analysts anticipate that the company will post earnings of $1.90 per share, with EPS estimates ranging from $1.87 to $1.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Gildan Activewear.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $716.40 million for the quarter, compared to analyst estimates of $748.86 million. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.80%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share.

Several equities analysts recently commented on the stock. Zacks Investment Research cut shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price objective on shares of Gildan Activewear in a research note on Friday, October 20th. Goldman Sachs Group reaffirmed a “buy” rating and set a $37.00 price objective on shares of Gildan Activewear in a research note on Friday, December 8th. Bank of America reaffirmed a “buy” rating and set a $37.00 price objective on shares of Gildan Activewear in a research note on Friday, December 8th. Finally, Stifel Nicolaus set a $37.00 price objective on shares of Gildan Activewear and gave the company a “buy” rating in a research note on Friday, December 15th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Gildan Activewear currently has an average rating of “Hold” and an average target price of $34.00.

A number of hedge funds have recently added to or reduced their stakes in GIL. Janus Henderson Group PLC purchased a new position in Gildan Activewear in the 2nd quarter worth approximately $266,358,000. FMR LLC grew its stake in Gildan Activewear by 18.2% in the 2nd quarter. FMR LLC now owns 12,177,081 shares of the textile maker’s stock worth $374,195,000 after buying an additional 1,875,214 shares in the last quarter. Marathon Asset Management LLP purchased a new position in Gildan Activewear in the 3rd quarter worth approximately $12,991,000. JPMorgan Chase & Co. grew its stake in Gildan Activewear by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,913,265 shares of the textile maker’s stock worth $121,819,000 after buying an additional 278,852 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Gildan Activewear by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,927,849 shares of the textile maker’s stock worth $151,433,000 after buying an additional 185,026 shares in the last quarter. 71.70% of the stock is owned by institutional investors and hedge funds.

Gildan Activewear (NYSE GIL) opened at $33.45 on Monday. The company has a market cap of $7,339.43, a P/E ratio of 19.91, a P/E/G ratio of 1.33 and a beta of 0.75. Gildan Activewear has a 12 month low of $23.55 and a 12 month high of $33.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 5.13.

Gildan Activewear declared that its board has approved a share buyback program on Thursday, November 2nd that authorizes the company to repurchase 4,600,000 shares. This repurchase authorization authorizes the textile maker to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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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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