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

Gildan Activewear (NYSE:GIL) (TSE:GIL) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.970-3.020 for the period, compared to the consensus EPS 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 Stock Up 1.6 %

Shares of Gildan Activewear stock traded up $0.76 during trading hours on Friday, hitting $49.66. 531,424 shares of the company’s stock traded hands, compared to its average volume of 709,643. Gildan Activewear has a twelve month low of $28.95 and a twelve month high of $49.92. The company has a market cap of $7.80 billion, a PE ratio of 20.35, a PEG ratio of 1.83 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $46.45 and a 200-day simple moving average of $40.87.

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

Gildan Activewear Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, November 21st will be given a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.22%. Gildan Activewear’s payout ratio is currently 33.61%.

Analyst Ratings Changes

GIL has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Citigroup raised their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity Group boosted their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. CIBC increased their target price on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.