Desjardins Weighs in on Gildan Activewear Inc.’s Q2 2024 Earnings (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – Desjardins lifted their Q2 2024 earnings per share (EPS) estimates for shares of Gildan Activewear in a note issued to investors on Tuesday, July 30th. Desjardins analyst C. Li now anticipates that the company will post earnings of $0.99 per share for the quarter, up from their previous forecast of $0.96. Desjardins currently has a “Buy” rating and a $63.00 target price on the stock. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.06 per share. Desjardins also issued estimates for Gildan Activewear’s Q3 2024 earnings at $1.15 EPS.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last announced its earnings results on Wednesday, May 1st. The company reported C$0.80 EPS for the quarter, topping the consensus estimate of C$0.72 by C$0.08. The business had revenue of C$938.04 million for the quarter, compared to the consensus estimate of C$956.47 million. Gildan Activewear had a return on equity of 26.88% and a net margin of 16.14%.

GIL has been the subject of several other research reports. National Bankshares boosted their price objective on shares of Gildan Activewear from C$57.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Friday. TD Securities boosted their price objective on shares of Gildan Activewear from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$48.83.

Gildan Activewear Price Performance

The firm has a market cap of C$9.66 billion, a P/E ratio of 14.02, a P/E/G ratio of 3.54 and a beta of 1.63. The company has a quick ratio of 0.87, a current ratio of 2.38 and a debt-to-equity ratio of 64.76. Gildan Activewear has a 1-year low of C$36.42 and a 1-year high of C$58.00. The stock has a 50 day simple moving average of C$52.76 and a 200 day simple moving average of C$49.07.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.28 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.12 annualized dividend and a dividend yield of ∞. Gildan Activewear’s payout ratio is presently 28.04%.

Insider Buying and Selling at Gildan Activewear

In related news, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of C$37.06, for a total value of C$161,200.13. In related news, Senior Officer Juan Carlos Contreras Contreras Y. Contreras sold 4,350 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of C$37.06, for a total value of C$161,200.13. Also, Director Ghislain Houle bought 9,625 shares of Gildan Activewear stock in a transaction that occurred on Monday, June 3rd. The stock was bought at an average cost of C$51.83 per share, with a total value of C$498,834.88. Corporate insiders own 2.17% of the company’s stock.

About Gildan Activewear

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.