Gildan Activewear (NYSE:GIL) (TSE:GIL) – Equities research analysts at National Bank Financial upped their Q3 2018 earnings per share (EPS) estimates for Gildan Activewear in a note issued to investors on Thursday, May 3rd. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will earn $0.63 per share for the quarter, up from their previous estimate of $0.62. National Bank Financial also issued estimates for Gildan Activewear’s Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.87 EPS, Q1 2019 earnings at $0.38 EPS and Q2 2019 earnings at $0.56 EPS.
Several other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Friday. TD Securities upgraded Gildan Activewear from a “hold” rating to a “buy” rating and upped their price target for the stock from $33.00 to $35.00 in a research note on Thursday. DA Davidson set a $32.00 price target on Gildan Activewear and gave the stock a “hold” rating in a research note on Tuesday, March 6th. ValuEngine downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price target on shares of Gildan Activewear in a research note on Friday, February 23rd. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Gildan Activewear has an average rating of “Hold” and an average price target of $33.89.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its quarterly earnings results on Wednesday, May 2nd. The textile maker reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). Gildan Activewear had a return on equity of 18.06% and a net margin of 12.69%. The business had revenue of $647.30 million during the quarter, compared to the consensus estimate of $654.39 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year.
Gildan Activewear announced that its board has authorized a stock buyback plan on Thursday, February 22nd that authorizes the company to buyback 10,960,000 outstanding shares. This buyback authorization authorizes the textile maker to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Thursday, May 17th will be given a dividend of $0.112 per share. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.57%. Gildan Activewear’s dividend payout ratio is currently 26.16%.
Several hedge funds and other institutional investors have recently bought and sold shares of GIL. BB&T Corp raised its holdings in Gildan Activewear by 11.9% during the 4th quarter. BB&T Corp now owns 16,685 shares of the textile maker’s stock valued at $539,000 after buying an additional 1,781 shares during the period. Marathon Asset Management LLP raised its holdings in Gildan Activewear by 0.4% during the 4th quarter. Marathon Asset Management LLP now owns 418,475 shares of the textile maker’s stock valued at $13,563,000 after buying an additional 1,791 shares during the period. Daiwa Securities Group Inc. raised its holdings in Gildan Activewear by 1.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 227,369 shares of the textile maker’s stock valued at $6,569,000 after buying an additional 2,384 shares during the period. Koch Industries Inc. raised its holdings in Gildan Activewear by 31.3% during the 4th quarter. Koch Industries Inc. now owns 11,741 shares of the textile maker’s stock valued at $379,000 after buying an additional 2,802 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Gildan Activewear by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 294,640 shares of the textile maker’s stock valued at $9,516,000 after buying an additional 3,573 shares during the period. Hedge funds and other institutional investors own 72.82% of the company’s stock.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. 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, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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