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.
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.
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