Gildan Activewear Inc. (NYSE:GIL) Declares $0.15 Quarterly Dividend

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Investors of record on Thursday, November 21st will be given a dividend of 0.152 per share by the textile maker on Monday, December 16th. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, November 21st.

Gildan Activewear has raised its dividend payment by an average of 69.1% annually over the last three years. Gildan Activewear has a dividend payout ratio of 24.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gildan Activewear to earn $3.32 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 24.7%.

Gildan Activewear Trading Up 1.5 %

Shares of GIL traded up $0.73 during trading hours on Friday, hitting $49.63. The company had a trading volume of 35,834 shares, compared to its average volume of 707,306. The firm has a market cap of $7.79 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.83 and a beta of 1.43. Gildan Activewear has a 52-week low of $28.95 and a 52-week high of $49.72. The stock’s 50 day moving average price is $46.31 and its 200 day moving average price is $40.77. 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 (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The business had revenue of $891.10 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.74 EPS. On average, research analysts predict that Gildan Activewear will post 2.93 EPS for the current year.

Wall Street Analyst Weigh In

GIL has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their target price on Gildan Activewear from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Securities raised their target price on Gildan Activewear from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada increased their price objective on Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and an average price target of $45.68.

About Gildan Activewear

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.