Gildan Activewear Inc. (TSE:GIL) Plans Dividend Increase – $0.28 Per Share

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Thursday, May 23rd will be given a dividend of 0.277 per share on Monday, June 17th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, May 22nd. This is a positive change from Gildan Activewear’s previous quarterly dividend of $0.28.

Gildan Activewear Stock Down 0.8 %

TSE:GIL traded down C$0.35 during trading hours on Friday, hitting C$45.54. 99,215 shares of the company’s stock traded hands, compared to its average volume of 329,496. The company has a debt-to-equity ratio of 55.97, a quick ratio of 0.87 and a current ratio of 2.33. The firm has a market cap of C$7.68 billion, a P/E ratio of 11.22, a P/E/G ratio of 2.70 and a beta of 1.62. The stock’s fifty day moving average price is C$48.37 and its two-hundred day moving average price is C$46.06. Gildan Activewear has a twelve month low of C$36.42 and a twelve month high of C$52.80.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings results on Wednesday, February 21st. The company reported C$1.02 EPS for the quarter, topping the consensus estimate of C$0.99 by C$0.03. The company had revenue of C$1.07 billion during the quarter, compared to analysts’ expectations of C$1.02 billion. Gildan Activewear had a net margin of 16.70% and a return on equity of 27.79%. On average, research analysts expect that Gildan Activewear will post 4.0089213 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Desjardins lifted their target price on shares of Gildan Activewear from C$53.00 to C$55.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. National Bankshares raised their price objective on Gildan Activewear from C$52.00 to C$58.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada increased their target price on Gildan Activewear from C$39.00 to C$41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$47.00.

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.