Equities research analysts predict that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will post sales of $660.30 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Gildan Activewear’s earnings, with estimates ranging from $658.60 million to $662.00 million. Gildan Activewear posted sales of $665.40 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Gildan Activewear will report full year sales of $660.30 million for the current year, with estimates ranging from $2.83 billion to $2.92 billion. For the next year, analysts anticipate that the business will post sales of $2.98 billion per share, with estimates ranging from $2.97 billion to $2.99 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Gildan Activewear.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its earnings results on Thursday, February 22nd. The textile maker reported $0.31 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.31. The company had revenue of $653.70 million during the quarter, compared to the consensus estimate of $636.62 million. Gildan Activewear had a return on equity of 18.63% and a net margin of 13.17%. Gildan Activewear’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.
Shares of Gildan Activewear (GIL) traded down $0.44 during trading on Tuesday, reaching $29.42. The company’s stock had a trading volume of 298,125 shares, compared to its average volume of 473,188. The company has a quick ratio of 1.40, a current ratio of 5.06 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6,523.63, a PE ratio of 18.25, a P/E/G ratio of 1.20 and a beta of 0.79. Gildan Activewear has a 1-year low of $25.08 and a 1-year high of $34.19.
Gildan Activewear declared that its board has initiated a stock buyback plan on Thursday, November 2nd that allows the company to buyback 4,600,000 outstanding shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 8th will be paid a dividend of $0.112 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This is a boost from Gildan Activewear’s previous quarterly dividend of $0.09. This represents a $0.45 annualized dividend and a dividend yield of 1.52%. Gildan Activewear’s payout ratio is 22.98%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Boston Private Wealth LLC purchased a new position in shares of Gildan Activewear during the third quarter valued at approximately $201,000. Atria Investments LLC purchased a new position in shares of Gildan Activewear during the fourth quarter valued at approximately $204,000. Stifel Financial Corp purchased a new position in shares of Gildan Activewear during the third quarter valued at approximately $210,000. BlueCrest Capital Management Ltd purchased a new position in shares of Gildan Activewear during the fourth quarter valued at approximately $219,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Gildan Activewear during the second quarter valued at approximately $220,000. 68.19% of the stock is currently owned by hedge funds and other institutional investors.
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About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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