Equities Analysts Set Expectations for Gildan Activewear Inc.’s FY2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Research analysts at Desjardins increased their FY2024 earnings per share (EPS) estimates for Gildan Activewear in a report released on Thursday, August 1st. Desjardins analyst C. Li now forecasts that the company will post earnings per share of $4.10 for the year, up from their prior estimate of $4.07. Desjardins currently has a “Buy” rating and a $67.00 price target on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.06 per share.

Other equities research analysts also recently issued research reports about the company. National Bankshares raised their price target on Gildan Activewear from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets upgraded Gildan Activewear to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, TD Securities raised their price target on Gildan Activewear from C$46.00 to C$50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$54.00.

Gildan Activewear Trading Down 3.6 %

Shares of GIL stock opened at C$55.26 on Monday. The business’s fifty day moving average is C$52.88 and its 200 day moving average is C$49.18. Gildan Activewear has a 52-week low of C$36.42 and a 52-week high of C$58.00. The company has a debt-to-equity ratio of 64.76, a quick ratio of 0.87 and a current ratio of 2.38. The company has a market capitalization of C$9.32 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 3.54 and a beta of 1.63.

Gildan Activewear Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.28 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, August 22nd. Gildan Activewear’s dividend payout ratio (DPR) is 28.04%.

Insider Activity

In related news, Director Ghislain Houle acquired 9,625 shares of Gildan Activewear stock in a transaction dated Monday, June 3rd. The shares were purchased at an average cost of C$51.83 per share, with a total value of C$498,834.88. In other Gildan Activewear news, Director Ghislain Houle bought 9,625 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average cost of C$51.83 per share, with a total value of C$498,834.88. Also, Senior Officer Rhodri Harries sold 28,698 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of C$39.00, for a total value of C$1,119,222.00. Insiders own 2.17% of the company’s stock.

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.