Gildan Activewear Inc (GIL) Expected to Announce Earnings of $0.31 Per Share

Analysts expect Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) to post $0.31 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Gildan Activewear’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.31. Gildan Activewear posted earnings of $0.32 per share during the same quarter last year, which suggests a negative year over year growth rate of 3.1%. The business is scheduled to report its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Gildan Activewear will report full year earnings of $1.71 per share for the current year, with EPS estimates ranging from $1.70 to $1.72. For the next financial year, analysts anticipate that the business will report earnings of $1.90 per share, with EPS estimates ranging from $1.87 to $1.92. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Gildan Activewear.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Gildan Activewear had a net margin of 14.21% and a return on equity of 18.80%. The business had revenue of $716.40 million for the quarter, compared to analyst estimates of $748.86 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year.

Several equities research analysts have recently weighed in on GIL shares. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Gildan Activewear in a report on Tuesday, November 7th. Zacks Investment Research raised shares of Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Tuesday, August 29th. BMO Capital Markets lowered shares of Gildan Activewear from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $34.00 to $30.00 in a report on Friday, November 3rd. Finally, Macquarie assumed coverage on shares of Gildan Activewear in a report on Wednesday, November 1st. They issued a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $32.20.

Gildan Activewear (NYSE GIL) traded down $0.79 on Friday, hitting $31.18. 690,700 shares of the stock traded hands, compared to its average volume of 543,514. The company has a current ratio of 5.13, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. Gildan Activewear has a fifty-two week low of $23.55 and a fifty-two week high of $32.31. The company has a market cap of $6,910.00, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.38 and a beta of 0.75.

Gildan Activewear announced that its Board of Directors has approved a share repurchase program on Thursday, November 2nd that authorizes the company to buyback 4,600,000 outstanding shares. This buyback authorization authorizes the textile maker to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.094 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 15th. Gildan Activewear’s dividend payout ratio is currently 22.02%.

A number of large investors have recently modified their holdings of the business. Bank of Nova Scotia Trust Co. boosted its stake in shares of Gildan Activewear by 45.3% in the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 17,012 shares of the textile maker’s stock valued at $533,000 after purchasing an additional 5,305 shares during the last quarter. Grandeur Peak Global Advisors LLC boosted its stake in shares of Gildan Activewear by 7.5% in the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 313,465 shares of the textile maker’s stock valued at $9,793,000 after purchasing an additional 22,000 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Gildan Activewear in the 3rd quarter valued at about $737,000. Signature Financial Management Inc. boosted its stake in shares of Gildan Activewear by 4.8% in the 3rd quarter. Signature Financial Management Inc. now owns 38,410 shares of the textile maker’s stock valued at $1,166,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Gildan Activewear by 1.1% in the 3rd quarter. Mackenzie Financial Corp now owns 1,848,210 shares of the textile maker’s stock valued at $57,812,000 after purchasing an additional 19,653 shares during the last quarter. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

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Gildan Activewear Company Profile

Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.

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

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