Equities Analysts Set Expectations for Gildan Activewear Inc.’s FY2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Investment analysts at Desjardins raised their FY2024 EPS estimates for Gildan Activewear in a report issued on Thursday, August 1st. Desjardins analyst C. Li now forecasts that the company will post earnings per share of $4.10 for the year, up from their prior estimate of $4.07. Desjardins currently has a “Buy” rating and a $67.00 target price on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.06 per share.

GIL has been the topic of a number of other reports. BMO Capital Markets raised shares of Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. TD Securities lifted their price objective on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, National Bankshares lifted their price objective on shares of Gildan Activewear from C$57.00 to C$58.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Gildan Activewear has a consensus rating of “Buy” and a consensus target price of C$54.00.

Gildan Activewear Stock Performance

Shares of TSE:GIL opened at C$55.26 on Monday. The firm has a market cap of C$9.32 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 3.54 and a beta of 1.63. The firm’s 50 day simple moving average is C$52.88 and its 200-day simple moving average is C$49.18. Gildan Activewear has a one year low of C$36.42 and a one year high of C$58.00. The company has a debt-to-equity ratio of 64.76, a quick ratio of 0.87 and a current ratio of 2.38.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.03%. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is presently 28.04%.

Insider Activity at Gildan Activewear

In other news, Director Ghislain Houle bought 9,625 shares of the stock in a transaction on Monday, June 3rd. The stock was bought at an average cost of C$51.83 per share, for a total transaction of C$498,834.88. In other Gildan Activewear news, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of C$37.06, for a total value of C$161,200.13. Also, Director Ghislain Houle bought 9,625 shares of the stock in a transaction on Monday, June 3rd. The stock was purchased at an average price of C$51.83 per share, with a total value of C$498,834.88. 2.17% of the stock is currently owned by corporate insiders.

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.