Gildan Activewear Inc. (NYSE:GIL) – Equities researchers at DA Davidson decreased their Q3 2016 EPS estimates for Gildan Activewear in a research report issued to clients and investors on Wednesday. DA Davidson analyst A. Burns now anticipates that the brokerage will post earnings per share of $0.51 for the quarter, down from their prior estimate of $0.52. DA Davidson also issued estimates for Gildan Activewear’s FY2016 earnings at $1.51 EPS.
Gildan Activewear (NYSE:GIL) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Gildan Activewear had a net margin of 13.94% and a return on equity of 17.19%. The business earned $689 million during the quarter, compared to analyst estimates of $697.92 million. During the same period last year, the company earned $0.42 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Gildan Activewear from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Thursday, July 21st. Scotiabank reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Gildan Activewear in a research note on Thursday, July 28th. TD Securities reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Gildan Activewear in a research note on Thursday, July 28th. Raymond James Financial Inc. reaffirmed a “strong-buy” rating and issued a $35.00 price objective on shares of Gildan Activewear in a research note on Thursday, July 21st. Finally, Desjardins reaffirmed a “buy” rating on shares of Gildan Activewear in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Gildan Activewear currently has a consensus rating of “Buy” and an average target price of $36.71.
Shares of Gildan Activewear (NYSE:GIL) traded down 0.40% during trading on Friday, hitting $27.17. The stock had a trading volume of 96,297 shares. The stock’s 50 day moving average is $28.42 and its 200-day moving average is $29.55. Gildan Activewear has a 12-month low of $22.43 and a 12-month high of $32.20. The company has a market cap of $6.30 billion, a PE ratio of 18.91 and a beta of 0.98.
A number of hedge funds and other institutional investors have recently modified their holdings of GIL. AGF Investments Inc. boosted its position in shares of Gildan Activewear by 121.1% in the second quarter. AGF Investments Inc. now owns 6,414 shares of the company’s stock worth $188,000 after buying an additional 3,513 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Gildan Activewear during the second quarter worth $211,000. Cipher Capital LP purchased a new position in shares of Gildan Activewear during the second quarter worth $244,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Gildan Activewear during the first quarter worth $263,000. Finally, Quantitative Investment Management LLC purchased a new position in shares of Gildan Activewear during the second quarter worth $284,000. Hedge funds and other institutional investors own 72.64% of the company’s stock.
About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel. The Company’s segments include Printwear and Branded Apparel. It offers T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. It markets its products through approximately two main distribution channels.
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