Q2 2024 EPS Estimates for Gildan Activewear Inc. Reduced by National Bank Financial (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) – Stock analysts at National Bank Financial cut their Q2 2024 earnings per share estimates for Gildan Activewear in a report released on Wednesday, May 1st. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will earn $0.77 per share for the quarter, down from their previous estimate of $0.82. The consensus estimate for Gildan Activewear’s current full-year earnings is $2.94 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q3 2024 earnings at $0.86 EPS, Q4 2024 earnings at $0.77 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.94 EPS and Q4 2025 earnings at $0.85 EPS.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $695.80 million for the quarter, compared to analysts’ expectations of $692.94 million. Gildan Activewear had a return on equity of 23.89% and a net margin of 16.14%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share.

Several other equities analysts have also recently issued reports on the company. Canaccord Genuity Group lifted their price target on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday. Scotiabank upped their price target on shares of Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a report on Friday, February 9th. Stifel Nicolaus lifted their price objective on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 target price on shares of Gildan Activewear in a report on Monday, April 8th. Finally, CIBC lifted their price target on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus price target of $41.95.

Gildan Activewear Price Performance

Shares of GIL opened at $33.10 on Friday. Gildan Activewear has a one year low of $26.98 and a one year high of $38.87. The stock’s fifty day moving average is $35.51 and its 200-day moving average is $33.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 2.33. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.31 and a beta of 1.38.

Gildan Activewear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.82 dividend on an annualized basis and a yield of 2.48%. Gildan Activewear’s dividend payout ratio is 27.70%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pzena Investment Management LLC lifted its holdings in Gildan Activewear by 1.6% during the 3rd quarter. Pzena Investment Management LLC now owns 10,996,538 shares of the textile maker’s stock worth $308,013,000 after buying an additional 168,601 shares in the last quarter. Cooke & Bieler LP lifted its stake in shares of Gildan Activewear by 1.7% during the fourth quarter. Cooke & Bieler LP now owns 10,075,062 shares of the textile maker’s stock valued at $333,082,000 after acquiring an additional 169,476 shares during the period. Browning West LP boosted its holdings in Gildan Activewear by 30.0% in the fourth quarter. Browning West LP now owns 8,640,448 shares of the textile maker’s stock valued at $285,653,000 after acquiring an additional 1,994,900 shares during the last quarter. Vanguard Group Inc. increased its position in Gildan Activewear by 1.6% in the third quarter. Vanguard Group Inc. now owns 6,401,045 shares of the textile maker’s stock worth $179,293,000 after purchasing an additional 97,924 shares during the period. Finally, Guardian Capital LP raised its holdings in Gildan Activewear by 3.2% during the 3rd quarter. Guardian Capital LP now owns 2,739,070 shares of the textile maker’s stock worth $77,128,000 after purchasing an additional 84,744 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.