Q3 2019 Earnings Forecast for Gildan Activewear Inc (NYSE:GIL) Issued By National Bank Financial

Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) – Research analysts at National Bank Financial decreased their Q3 2019 EPS estimates for Gildan Activewear in a research note issued on Thursday, October 17th. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.57. National Bank Financial also issued estimates for Gildan Activewear’s FY2019 earnings at $1.69 EPS, Q3 2020 earnings at $0.59 EPS and FY2020 earnings at $2.00 EPS.

GIL has been the topic of several other reports. BMO Capital Markets decreased their target price on shares of Gildan Activewear from $41.00 to $31.00 and set a “market perform” rating on the stock in a research report on Friday. Stifel Nicolaus lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating and decreased their target price for the company from $44.00 to $30.00 in a research report on Friday. ValuEngine downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. TD Securities cut their price target on shares of Gildan Activewear from $45.00 to $44.00 and set a “buy” rating for the company in a report on Thursday. Finally, Zacks Investment Research downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $31.60.

Shares of Gildan Activewear stock opened at $26.28 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.68 and a current ratio of 4.33. The firm’s 50-day simple moving average is $35.73 and its 200-day simple moving average is $37.20. Gildan Activewear has a twelve month low of $23.45 and a twelve month high of $40.40. The firm has a market cap of $7.21 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.85.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. Gildan Activewear had a net margin of 10.14% and a return on equity of 18.48%. The business had revenue of $801.60 million for the quarter, compared to analyst estimates of $793.91 million. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue was up 4.9% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in GIL. Kovitz Investment Group Partners LLC bought a new position in Gildan Activewear during the 2nd quarter valued at about $21,978,000. Royal Bank of Canada lifted its holdings in Gildan Activewear by 9.6% during the 2nd quarter. Royal Bank of Canada now owns 5,569,834 shares of the textile maker’s stock valued at $215,443,000 after purchasing an additional 489,075 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Gildan Activewear by 72.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 832,244 shares of the textile maker’s stock valued at $31,999,000 after purchasing an additional 349,750 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Gildan Activewear by 46.6% during the 2nd quarter. APG Asset Management N.V. now owns 1,068,000 shares of the textile maker’s stock valued at $36,373,000 after purchasing an additional 339,600 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Gildan Activewear during the 2nd quarter valued at about $6,687,000. 67.01% of the stock is owned by hedge funds and other institutional investors.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.

Read More: How does new data get added to a blockchain?

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

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit