Gildan Activewear (NYSE:GIL) Issues FY 2024 Earnings Guidance

Gildan Activewear (NYSE:GIL) (TSE:GIL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.970-3.020 for the period, compared to the consensus estimate of 2.970. The company issued revenue guidance of -. Gildan Activewear also updated its FY24 guidance to $2.97-3.02 EPS.

Gildan Activewear Trading Up 1.6 %

Shares of GIL traded up $0.76 during trading hours on Friday, reaching $49.66. 531,424 shares of the company traded hands, compared to its average volume of 709,643. The stock’s fifty day moving average price is $46.45 and its 200 day moving average price is $40.87. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.83 and a beta of 1.43. Gildan Activewear has a 12-month low of $28.95 and a 12-month high of $49.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. Gildan Activewear had a net margin of 13.01% and a return on equity of 24.96%. The business had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. During the same period in the prior year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Gildan Activewear will post 2.93 earnings per share for the current year.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is presently 33.61%.

Wall Street Analyst Weigh In

GIL has been the topic of several research reports. Royal Bank of Canada raised their price target on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Citigroup lifted their price objective on shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus upped their target price on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets boosted their price target on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, TD Securities raised their price objective on Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and a consensus price target of $51.05.

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.