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 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.
Featured Story: Short Selling Stocks, A Beginner’s Guide
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gildan Activewear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gildan Activewear and related companies with MarketBeat.com's FREE daily email newsletter.