Gildan Activewear Inc. Plans Quarterly Dividend of $0.08 (GIL)

Gildan Activewear Inc. (NYSE:GIL) declared a quarterly dividend on Wednesday, July 27th. Stockholders of record on Thursday, August 11th will be paid a dividend of 0.078 per share on Tuesday, September 6th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Tuesday, August 9th.

Gildan Activewear (NYSE:GIL) traded down 5.87% on Wednesday, hitting $29.19. 1,091,994 shares of the stock were exchanged. The company has a 50-day moving average of $29.84 and a 200 day moving average of $28.57. Gildan Activewear has a 12 month low of $22.43 and a 12 month high of $35.15. The firm has a market cap of $6.88 billion and a P/E ratio of 20.19.

Gildan Activewear (NYSE:GIL) last issued its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company had revenue of $689 million for the quarter, compared to the consensus estimate of $697.92 million. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. Equities research analysts expect that Gildan Activewear will post $1.59 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Royal Bank Of Canada lifted their price target on shares of Gildan Activewear from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, May 5th. Stifel Nicolaus lifted their price target on shares of Gildan Activewear from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, May 5th. National Bank Financial reaffirmed an “outperform” rating and issued a $43.00 price target (up previously from $42.00) on shares of Gildan Activewear in a report on Friday, May 6th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $44.00 price target (up previously from $42.00) on shares of Gildan Activewear in a report on Friday, May 6th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $36.64.

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.