Analysts Predict Gildan Activewear Inc. (NYSE: GIL) to Report Earnings of $ 0.53 Per Share


Wall Street brokerage firms forecast that Gildan Activewear Inc. (NYSE: GIL) (TSE: GIL) will report earnings of $ 0.53 per share for the current fiscal quarter, according to Zacks investment research. Three analysts provided revenue estimates for Gildan Activewear. The lowest EPS estimate is $ 0.48 and the highest is $ 0.60. Gildan Activewear reported earnings per share of ($ 0.99) for the same quarter last year, suggesting a positive year-over-year growth rate of 153.5%. The company is expected to release its next earnings report on Thursday, July 29.

On average, analysts expect Gildan Activewear to report annual earnings of $ 1.83 per share for the current year, with EPS estimates ranging from $ 1.70 to $ 1.98. For next year, analysts expect the company to post earnings of $ 2.17 per share, with EPS estimates ranging from $ 2.06 to $ 2.25. Zacks EPS averages are an average based on a survey of analysts who cover Gildan Activewear.

Gildan Activewear (NYSE: GIL) (TSE: GIL) last reported its results on Tuesday, May 4. The textile maker reported EPS of $ 0.48 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.18 of $ 0.30. Gildan Activewear delivered a positive return on equity of 3.11% and a negative net margin of 1.30%. The company posted revenue of $ 589.60 million for the quarter, against analysts’ expectations of $ 512.43 million.

Several equity research analysts recently commented on GIL shares. Royal Bank of Canada increased its target price on Gildan Activewear from $ 35 to $ 41.00 and rated the stock “outperform” in a report released Thursday, May 6. UBS Group upgraded Gildan Activewear from a “neutral” rating to a “buy” rating in a report published on Wednesday April 7th. TD Securities reissued a “buy” rating and set a target price of $ 52.00 for Gildan Activewear shares in a report released Tuesday. Zacks investment research upgraded Gildan Activewear from a “conservation” rating to a “strong buy” rating and set a target price of $ 41.00 for the stock in a report released on Monday, July 12. Finally, National Bank Financial raised its price target for Gildan sportswear from C $ 50.00 to C $ 53.00 and gave the company an “outperformance” rating in a report released Wednesday. Six analysts rated the stock with a buy rating and one issued a strong buy rating for the company. The company currently has a consensus rating of “Buy” and an average target price of $ 39.29.

Hedge funds and other institutional investors recently bought and sold shares in the company. Amundi Pioneer Asset Management Inc. increased its stake in Gildan Activewear by 16.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 84,910 shares of the textile maker valued at $ 3,055,000 after purchasing an additional 12,174 shares during the period. FIL Ltd increased its stake in Gildan Activewear by 436.3% during the 4th quarter. FIL Ltd now owns 6,933,101 shares of the textile maker valued at $ 193,848,000 after purchasing an additional 5,640,446 shares during the period. Alliancebernstein LP increased its stake in Gildan Activewear by 3.9% during the 4th quarter. Alliancebernstein LP now owns 25,008 shares of the textile maker valued at $ 700,000 after purchasing an additional 938 shares during the period. Renaissance Technologies LLC acquired a new stake in Gildan Activewear during the 4th quarter for a value of $ 417,000. Finally, Eaton Vance Management increased its stake in Gildan Activewear by 70.7% in the 4th quarter. Eaton Vance Management now owns 180,628 shares of the textile maker valued at $ 5,059,000 after purchasing an additional 74,813 shares during the period. 76.10% of the shares are currently held by institutional investors.

NYSE: GIL shares opened at $ 33.02 on Friday. Gildan Activewear has a 12 month low of $ 16.43 and a 12 month high of $ 38.50. The company has a market cap of $ 6.56 billion, a PE ratio of -235.86, a price / earnings-growth ratio of 0.65, and a beta of 1.57. The company’s 50-day moving average price is $ 35.66. The company has a leverage ratio of 0.64, a quick ratio of 2.64 and a current ratio of 4.75.

The company also recently declared a quarterly dividend, which was paid on Monday, June 21. Shareholders of record on Thursday, May 27 received a dividend of $ 0.154. The ex-dividend date was Wednesday May 26. This represents an annualized dividend of $ 0.62 and a dividend yield of 1.87%.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells various clothing products in the United States, Canada and abroad. It supplies various sportswear products including t-shirts, fleece tops and bottoms and sports shirts under the brands Gildan, Gildan Performance, Gildan Hammer, Comfort Colors, American Apparel, Anvil by Gildan, Alstyle, Prim + Preux and GoldToe.

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Historical and earnings estimates for Gildan Activewear (NYSE: GIL)

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