Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) – Equities research analysts at Raymond James dropped their Q2 2019 earnings per share estimates for shares of Gildan Activewear in a research note issued on Thursday, May 2nd, according to Zacks Investment Research. Raymond James analyst K. Tyghe now anticipates that the textile maker will post earnings of $0.53 per share for the quarter, down from their prior forecast of $0.54. Raymond James has a “Strong-Buy” rating and a $14.00 price target on the stock. Raymond James also issued estimates for Gildan Activewear’s Q3 2019 earnings at $0.70 EPS, Q4 2019 earnings at $0.58 EPS, Q1 2020 earnings at $0.45 EPS, Q3 2020 earnings at $0.75 EPS, Q4 2020 earnings at $0.57 EPS, Q1 2021 earnings at $0.50 EPS and FY2021 earnings at $2.65 EPS.
A number of other equities analysts have also recently weighed in on GIL. Desjardins cut Gildan Activewear from a “buy” rating to a “hold” rating and set a $33.98 price target on the stock. in a research note on Monday, February 4th. National Bank Financial reissued a “hold” rating on shares of Gildan Activewear in a research note on Friday, February 15th. TD Securities lifted their price target on Gildan Activewear from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, February 19th. Zacks Investment Research cut Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Finally, Royal Bank of Canada lifted their price target on Gildan Activewear from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, February 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $29.80.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $624.00 million for the quarter, compared to analysts’ expectations of $600.17 million. Gildan Activewear had a net margin of 10.59% and a return on equity of 18.24%. Gildan Activewear’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.134 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.54 annualized dividend and a yield of 1.47%. Gildan Activewear’s dividend payout ratio (DPR) is presently 29.03%.
Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Gildan Activewear by 20.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 347,309 shares of the textile maker’s stock valued at $10,568,000 after buying an additional 57,931 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gildan Activewear by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 170,104 shares of the textile maker’s stock worth $5,176,000 after purchasing an additional 4,372 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Gildan Activewear by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 601,023 shares of the textile maker’s stock worth $18,289,000 after purchasing an additional 209,607 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Gildan Activewear by 182.8% in the 3rd quarter. Renaissance Technologies LLC now owns 173,900 shares of the textile maker’s stock worth $5,292,000 after purchasing an additional 112,400 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Gildan Activewear by 11.7% in the 3rd quarter. AQR Capital Management LLC now owns 97,580 shares of the textile maker’s stock worth $2,967,000 after purchasing an additional 10,238 shares during the last quarter. 68.22% of the stock is currently owned by institutional investors.
Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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