Gildan Activewear (NYSE:GIL) Releases FY24 Earnings Guidance

Gildan Activewear (NYSE:GIL) (TSE:GIL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.97-3.02 for the period, compared to the consensus earnings per share estimate of $2.96. Gildan Activewear also updated its FY 2024 guidance to 2.970-3.020 EPS.

Gildan Activewear Stock Performance

NYSE GIL opened at $49.66 on Friday. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.85 and a beta of 1.44. The company has a 50-day simple moving average of $46.45 and a two-hundred day simple moving average of $40.90. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. 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 posted its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Gildan Activewear had a return on equity of 25.66% and a net margin of 13.06%. The business had revenue of $891.10 million for the quarter, compared to analyst estimates of $882.85 million. During the same period last year, the company earned $0.74 EPS. Gildan Activewear’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that Gildan Activewear will post 2.93 EPS for the current year.

Gildan Activewear Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, November 21st will be issued a dividend of $0.152 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.61 dividend on an annualized basis and a yield of 1.22%. Gildan Activewear’s dividend payout ratio is currently 32.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. CIBC boosted their price objective on shares of Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday. TD Securities boosted their price target on Gildan Activewear from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets increased their price objective on Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday. Canaccord Genuity Group lifted their price objective on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Citigroup upped their target price on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.