Gildan Activewear (TSE:GIL) Shares Cross Below 200 Day Moving Average – Here’s Why

Shares of Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$84.76 and traded as low as C$80.39. Gildan Activewear shares last traded at C$80.58, with a volume of 412,933 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GIL shares. Desjardins upped their price target on Gildan Activewear from C$95.00 to C$108.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. TD Securities lifted their price objective on shares of Gildan Activewear from C$77.00 to C$80.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Gildan Activewear currently has a consensus rating of “Buy” and an average price target of C$85.75.

Gildan Activewear Stock Performance

The stock’s 50-day moving average is C$91.43 and its 200 day moving average is C$84.76. The stock has a market cap of C$14.92 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 4.55 and a beta of 1.39. The company has a debt-to-equity ratio of 137.08, a current ratio of 2.11 and a quick ratio of 0.87.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its earnings results on Thursday, February 26th. The company reported C$1.31 earnings per share (EPS) for the quarter. The company had revenue of C$1.41 billion for the quarter. Gildan Activewear had a return on equity of 20.25% and a net margin of 11.00%. As a group, analysts predict that Gildan Activewear Inc. will post 4.5460385 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Monday, April 13th will be issued a dividend of $0.249 per share. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, March 19th. Gildan Activewear’s dividend payout ratio is currently 34.64%.

Gildan Activewear Company Profile

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO¿, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, Bonds®, as well as Champion® which is under an exclusive licensing agreement for the printwear channel in the U.S.