$749.55 Million in Sales Expected for Gildan Activewear Inc (GIL) This Quarter

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Analysts forecast that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will post sales of $749.55 million for the current quarter, Zacks reports. Two analysts have issued estimates for Gildan Activewear’s earnings. The highest sales estimate is $754.00 million and the lowest is $745.10 million. Gildan Activewear posted sales of $716.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The business is expected to report its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Gildan Activewear will report full-year sales of $2.88 billion for the current financial year, with estimates ranging from $2.86 billion to $2.89 billion. For the next financial year, analysts anticipate that the business will post sales of $3.01 billion, with estimates ranging from $2.99 billion to $3.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Gildan Activewear.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, August 2nd. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $764.20 million during the quarter, compared to the consensus estimate of $728.72 million. Gildan Activewear had a return on equity of 18.53% and a net margin of 12.51%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS.

A number of analysts have recently commented on the company. Zacks Investment Research downgraded Gildan Activewear from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded Gildan Activewear from a “sell” rating to a “hold” rating in a report on Monday, September 17th. TheStreet upgraded Gildan Activewear from a “c+” rating to a “b-” rating in a report on Friday, August 24th. TD Securities upped their price objective on Gildan Activewear from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Royal Bank of Canada upped their price objective on Gildan Activewear from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.00.

A number of institutional investors have recently made changes to their positions in GIL. Cooke & Bieler LP boosted its position in shares of Gildan Activewear by 4.6% in the second quarter. Cooke & Bieler LP now owns 5,927,975 shares of the textile maker’s stock worth $166,932,000 after buying an additional 260,186 shares during the period. CIBC World Markets Inc. boosted its position in shares of Gildan Activewear by 4.6% in the first quarter. CIBC World Markets Inc. now owns 2,632,575 shares of the textile maker’s stock worth $76,055,000 after buying an additional 115,104 shares during the period. Bank of America Corp DE boosted its position in shares of Gildan Activewear by 12.4% in the second quarter. Bank of America Corp DE now owns 2,069,502 shares of the textile maker’s stock worth $58,278,000 after buying an additional 228,918 shares during the period. Cardinal Capital Management Inc. boosted its position in shares of Gildan Activewear by 9.1% in the third quarter. Cardinal Capital Management Inc. now owns 1,437,080 shares of the textile maker’s stock worth $43,691,000 after buying an additional 120,185 shares during the period. Finally, Marathon Asset Management LLP boosted its position in shares of Gildan Activewear by 0.5% in the second quarter. Marathon Asset Management LLP now owns 1,345,288 shares of the textile maker’s stock worth $37,870,000 after buying an additional 6,039 shares during the period. 70.80% of the stock is owned by hedge funds and other institutional investors.

Shares of GIL stock traded up $0.34 on Monday, reaching $29.15. 706,314 shares of the stock were exchanged, compared to its average volume of 498,186. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.38 and a beta of 0.79. The company has a quick ratio of 1.76, a current ratio of 5.06 and a debt-to-equity ratio of 0.47. Gildan Activewear has a 1-year low of $25.33 and a 1-year high of $34.19.

Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.

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Earnings History and Estimates for Gildan Activewear (NYSE:GIL)

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