Gildan Activewear Inc. (TSE:GIL) Increases Dividend to $0.23 Per Share

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) declared a quarterly dividend on Wednesday, March 12th, TickerTech Dividends reports. Shareholders of record on Monday, April 7th will be paid a dividend of 0.226 per share on Monday, April 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a 10.2% increase from Gildan Activewear’s previous quarterly dividend of $0.21.

Gildan Activewear Stock Down 1.1 %

Shares of TSE:GIL opened at C$71.17 on Monday. Gildan Activewear has a 52 week low of C$44.23 and a 52 week high of C$79.11. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The company has a market cap of C$7.73 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The firm has a 50 day simple moving average of C$72.70 and a 200 day simple moving average of C$67.87.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%. During the same period last year, the company earned $0.75 earnings per share. As a group, research analysts expect that Gildan Activewear will post 4.5460385 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. National Bankshares raised their price objective on Gildan Activewear from C$78.00 to C$83.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. UBS Group upgraded shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Finally, Desjardins boosted their price objective on shares of Gildan Activewear from C$82.00 to C$87.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$68.50.

Insider Transactions at Gildan Activewear

In other Gildan Activewear news, Senior Officer Benito Masi sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total value of C$693,102.00. Also, Senior Officer Rhodri Harries sold 100,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of C$78.08, for a total value of C$7,808,000.00. Insiders sold 118,483 shares of company stock valued at $9,147,454 in the last three months. Corporate insiders own 2.26% of the company’s stock.

Gildan Activewear Company Profile

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.