Gildan Activewear Inc. (NYSE:GIL) Declares Quarterly Dividend of $0.21

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Thursday, May 23rd will be given a dividend of 0.205 per share by the textile maker on Monday, June 17th. This represents a $0.82 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, May 22nd.

Gildan Activewear has increased its dividend by an average of 69.1% per year over the last three years and has increased its dividend every year for the last 1 years. Gildan Activewear has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gildan Activewear to earn $3.23 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 25.4%.

Gildan Activewear Stock Down 3.1 %

Shares of NYSE GIL traded down $1.06 on Thursday, hitting $33.53. The company had a trading volume of 1,632,003 shares, compared to its average volume of 814,826. Gildan Activewear has a 12-month low of $26.98 and a 12-month high of $38.87. The business has a 50 day moving average of $35.59 and a two-hundred day moving average of $33.97. The company has a quick ratio of 0.83, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $5.65 billion, a P/E ratio of 11.15, a PEG ratio of 1.31 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Wednesday, May 1st. The textile maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Gildan Activewear had a return on equity of 23.19% and a net margin of 16.70%. The company had revenue of $695.80 million during the quarter, compared to the consensus estimate of $692.94 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Gildan Activewear will post 2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GIL has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 price target on shares of Gildan Activewear in a report on Monday, April 8th. Canaccord Genuity Group upped their price objective on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity Group upped their price objective on Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank upped their price objective on Gildan Activewear from $39.50 to $40.50 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. Finally, TD Securities increased their price target on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and a consensus price target of $41.95.

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.