Gildan Activewear (TSE:GIL) Issues Earnings Results

Gildan Activewear (TSE:GIL) (NYSE:GIL) released its quarterly earnings results on Wednesday. The company reported C$0.83 EPS for the quarter, topping the consensus estimate of C$0.82 by C$0.01, RTT News reports. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%. During the same quarter in the previous year, the firm earned $0.75 earnings per share.

Gildan Activewear Price Performance

Shares of GIL traded up C$1.37 during trading hours on Wednesday, reaching C$75.07. 42,229 shares of the company traded hands, compared to its average volume of 294,560. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26. The stock has a market capitalization of C$8.15 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. Gildan Activewear has a fifty-two week low of C$44.23 and a fifty-two week high of C$76.29. The stock has a fifty day simple moving average of C$70.55 and a 200 day simple moving average of C$65.77.

Gildan Activewear Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 21st. Gildan Activewear’s dividend payout ratio (DPR) is 29.76%.

Insider Activity at Gildan Activewear

In related news, Senior Officer Benito Masi sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total transaction of C$693,102.00. Corporate insiders own 2.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. National Bankshares upped their price target on Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group raised Gildan Activewear from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$57.20.

About Gildan Activewear

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.