Gildan Activewear Inc. (NYSE:GIL) Announces Quarterly Dividend of $0.15

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.152 per share by the textile maker on Monday, December 16th. This represents a $0.61 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, November 21st.

Gildan Activewear has increased its dividend payment by an average of 69.1% per year over the last three years. Gildan Activewear has a payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gildan Activewear to earn $3.38 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 24.3%.

Gildan Activewear Trading Up 0.6 %

Gildan Activewear stock opened at $48.91 on Wednesday. Gildan Activewear has a 52 week low of $30.68 and a 52 week high of $50.58. The stock has a 50-day moving average price of $47.49 and a 200 day moving average price of $42.13. The company has a quick ratio of 0.98, a current ratio of 2.31 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $891.10 million during the quarter, compared to analysts’ expectations of $882.85 million. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. Sell-side analysts anticipate that Gildan Activewear will post 2.97 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GIL shares. Citigroup increased their price target on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Securities raised their target price on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus upped their price objective on Gildan Activewear from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets raised their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.85.

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.