Gildan Activewear (TSE:GIL) Share Price Crosses Above 50 Day Moving Average of $46.51

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$46.51 and traded as high as C$50.14. Gildan Activewear shares last traded at C$49.67, with a volume of 191,141 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GIL. Stifel Canada lowered shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Desjardins lifted their price target on shares of Gildan Activewear from C$53.00 to C$55.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Royal Bank of Canada lifted their price target on shares of Gildan Activewear from C$39.00 to C$41.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, National Bankshares lifted their price target on shares of Gildan Activewear from C$52.00 to C$58.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gildan Activewear presently has an average rating of “Moderate Buy” and an average price target of C$47.00.

Gildan Activewear Trading Up 1.2 %

The company has a quick ratio of 0.87, a current ratio of 2.33 and a debt-to-equity ratio of 55.97. The stock has a market capitalization of C$8.48 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.70 and a beta of 1.62. The firm’s 50 day simple moving average is C$46.65 and its two-hundred day simple moving average is C$44.21.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C$1.02 earnings per share for the quarter, beating the consensus estimate of C$0.99 by C$0.03. The firm had revenue of C$1.07 billion during the quarter, compared to the consensus estimate of C$1.02 billion. Gildan Activewear had a net margin of 16.70% and a return on equity of 27.79%. As a group, analysts forecast that Gildan Activewear Inc. will post 3.9991259 earnings per share for the current fiscal year.

Gildan Activewear Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 8th. Stockholders of record on Monday, April 8th will be given a dividend of $0.275 per share. The ex-dividend date is Tuesday, March 12th. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.19. This represents a $1.10 annualized dividend and a dividend yield of 2.19%. Gildan Activewear’s payout ratio is presently 26.83%.

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.