Gildan Activewear, Inc. (NYSE:GIL – Get Free Report) (TSE:GIL) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $80.00.
Several equities analysts recently issued reports on GIL shares. UBS Group raised their price target on Gildan Activewear from $110.00 to $111.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Gildan Activewear in a research report on Thursday, August 13th. Scotiabank reaffirmed a “sector outperform” rating and issued a $67.00 target price (up from $65.00) on shares of Gildan Activewear in a research note on Friday, July 31st. Scotia boosted their price target on shares of Gildan Activewear from $65.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 31st. Finally, Citigroup restated a “neutral” rating on shares of Gildan Activewear in a report on Tuesday, August 4th.
View Our Latest Report on Gildan Activewear
Gildan Activewear Stock Performance
Gildan Activewear (NYSE:GIL – Get Free Report) (TSE:GIL) last released its quarterly earnings data on Thursday, July 30th. The textile maker reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.17. Gildan Activewear had a return on equity of 21.03% and a net margin of 1.28%.The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was up 72.3% compared to the same quarter last year. Research analysts anticipate that Gildan Activewear will post 4.67 earnings per share for the current fiscal year.
Gildan Activewear Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Thursday, August 20th will be issued a $0.249 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.00 annualized dividend and a yield of 1.9%. Gildan Activewear’s dividend payout ratio (DPR) is 192.31%.
Hedge Funds Weigh In On Gildan Activewear
Several institutional investors and hedge funds have recently modified their holdings of GIL. VELA Investment Management LLC raised its stake in shares of Gildan Activewear by 44.0% in the 2nd quarter. VELA Investment Management LLC now owns 104,710 shares of the textile maker’s stock valued at $5,403,000 after purchasing an additional 32,005 shares during the period. Corient Private Wealth LP raised its position in Gildan Activewear by 34.6% in the 2nd quarter. Corient Private Wealth LP now owns 8,868 shares of the textile maker’s stock valued at $458,000 after buying an additional 2,280 shares during the last quarter. Amundi lifted its stake in Gildan Activewear by 1.1% in the 2nd quarter. Amundi now owns 271,550 shares of the textile maker’s stock valued at $14,647,000 after acquiring an additional 3,070 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Gildan Activewear during the 2nd quarter worth approximately $111,000. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Gildan Activewear by 6.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,947,328 shares of the textile maker’s stock worth $101,013,000 after acquiring an additional 121,661 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.
Gildan Activewear Company Profile
Gildan Activewear Inc (NYSE:GIL) is a vertically integrated manufacturer and wholesaler of branded basic apparel, including activewear, socks, hosiery and underwear. Headquartered in Montreal, Quebec, the company produces a wide range of products such as T-shirts, fleece garments, sport shirts, performance wear, and shapewear under its Gildan, Anvil, Comfort Colors, Gold Toe, Peds and Silks brands. Leveraging its in-house knitting, dyeing, cut-and-sew and finishing operations, Gildan supplies blank apparel to screen printers, promotional product distributors and major retailers around the world.
Since its founding in 1984 by Glenn J.
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