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

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GIL. TD Securities boosted their target price on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada raised their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group boosted their target price on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. Finally, CIBC raised their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.05.

Gildan Activewear Trading Up 1.6 %

Shares of Gildan Activewear stock traded up $0.76 on Friday, hitting $49.66. 531,424 shares of the company traded hands, compared to its average volume of 709,643. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55. 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 stock’s 50 day moving average price is $46.45 and its 200-day moving average price is $40.87. Gildan Activewear has a 52 week low of $28.95 and a 52 week high of $49.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The company had revenue of $891.10 million for the quarter, compared to the consensus estimate of $882.85 million. During the same period last year, the business posted $0.74 EPS. Gildan Activewear’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that Gildan Activewear will post 2.93 EPS for the current 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 issued a $0.152 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 1.22%. Gildan Activewear’s dividend payout ratio is currently 33.61%.

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.