Gildan Activewear Inc. Plans Quarterly Dividend of $0.21 (NYSE:GIL)

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) declared a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Thursday, August 22nd will be paid a dividend of 0.205 per share by the textile maker on Monday, September 16th. This represents a $0.82 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, August 22nd.

Gildan Activewear has increased its dividend by an average of 65.7% per year over the last three years. Gildan Activewear has a payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gildan Activewear to earn $3.26 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 25.2%.

Gildan Activewear Trading Up 0.1 %

Gildan Activewear stock traded up $0.05 during trading hours on Friday, reaching $41.34. The company had a trading volume of 974,579 shares, compared to its average volume of 478,707. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 0.92. The company has a 50-day moving average price of $38.55 and a 200 day moving average price of $36.09. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.56 and a beta of 1.43. Gildan Activewear has a 12-month low of $26.99 and a 12-month high of $42.00.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $862.20 million for the quarter, compared to analysts’ expectations of $851.10 million. Gildan Activewear had a return on equity of 24.62% and a net margin of 13.01%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Equities analysts forecast that Gildan Activewear will post 2.95 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada boosted their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday. Canaccord Genuity Group boosted their target price on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Stifel Nicolaus raised Gildan Activewear from a “hold” rating to a “buy” rating and boosted their target price for the company from $39.00 to $51.00 in a research note on Friday. Finally, BMO Capital Markets boosted their target price on Gildan Activewear from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Gildan Activewear Company Profile

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.