Gildan Activewear (NYSE:GIL) (TSE:GIL) posted its quarterly earnings results on Thursday. The textile maker reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.78), MarketWatch Earnings reports. Gildan Activewear had a positive return on equity of 0.35% and a negative net margin of 10.14%. The company had revenue of $229.70 million during the quarter, compared to analysts’ expectations of $241.40 million. During the same period in the prior year, the firm earned $0.56 EPS. Gildan Activewear’s revenue for the quarter was down 71.3% compared to the same quarter last year.
Shares of GIL traded down $0.15 during trading hours on Friday, reaching $17.76. 764,108 shares of the stock traded hands, compared to its average volume of 631,527. The company has a current ratio of 5.41, a quick ratio of 2.35 and a debt-to-equity ratio of 0.99. Gildan Activewear has a 52-week low of $9.42 and a 52-week high of $40.29. The company’s 50-day moving average price is $15.80 and its two-hundred day moving average price is $18.57. The company has a market cap of $3.52 billion, a P/E ratio of -16.29, a price-to-earnings-growth ratio of 22.26 and a beta of 1.35.
A number of equities analysts have weighed in on GIL shares. BMO Capital Markets boosted their target price on Gildan Activewear from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. Royal Bank of Canada boosted their target price on Gildan Activewear from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Friday. UBS Group started coverage on Gildan Activewear in a research report on Wednesday, July 22nd. They issued a “neutral” rating and a $16.00 target price for the company. TD Securities boosted their target price on Gildan Activewear from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $13.00 price target (down previously from $14.00) on shares of Gildan Activewear in a research report on Thursday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $24.36.
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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