Equities analysts forecast that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will post sales of $725.00 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Gildan Activewear’s earnings. The highest sales estimate is $725.40 million and the lowest is $724.60 million. Gildan Activewear reported sales of $715.40 million during the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The firm is expected to issue its next earnings report on Thursday, August 2nd.
On average, analysts expect that Gildan Activewear will report full year sales of $2.83 billion for the current year, with estimates ranging from $2.82 billion to $2.84 billion. For the next financial year, analysts expect that the firm will report sales of $2.98 billion per share, with estimates ranging from $2.95 billion to $3.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Gildan Activewear.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last posted its earnings results on Wednesday, May 2nd. The textile maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Gildan Activewear had a return on equity of 18.06% and a net margin of 12.69%. The firm had revenue of $647.30 million for the quarter, compared to analysts’ expectations of $654.39 million. During the same quarter last year, the company posted $0.39 EPS. The firm’s revenue was down 2.7% on a year-over-year basis.
Shares of Gildan Activewear traded down $0.02, reaching $28.90, during midday trading on Friday, MarketBeat.com reports. 334,807 shares of the stock were exchanged, compared to its average volume of 421,217. Gildan Activewear has a 1 year low of $27.89 and a 1 year high of $34.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 5.06. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.36 and a beta of 0.85.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Thursday, May 17th were given a $0.112 dividend. The ex-dividend date of this dividend was Wednesday, May 16th. This represents a $0.45 annualized dividend and a yield of 1.55%. Gildan Activewear’s dividend payout ratio (DPR) is presently 26.16%.
Gildan Activewear declared that its board has initiated a stock repurchase plan on Thursday, February 22nd that allows the company to repurchase 10,960,000 outstanding shares. This repurchase authorization allows the textile maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of hedge funds have recently added to or reduced their stakes in the stock. Koch Industries Inc. lifted its position in Gildan Activewear by 15.0% in the 1st quarter. Koch Industries Inc. now owns 13,507 shares of the textile maker’s stock valued at $390,000 after acquiring an additional 1,766 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Gildan Activewear by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 162,336 shares of the textile maker’s stock valued at $4,690,000 after buying an additional 2,290 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of 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. CHICAGO TRUST Co NA lifted its holdings in shares of Gildan Activewear by 23.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 12,486 shares of the textile maker’s stock valued at $360,000 after buying an additional 2,386 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Gildan Activewear by 36.9% during the 1st quarter. Stifel Financial Corp now owns 9,002 shares of the textile maker’s stock valued at $261,000 after buying an additional 2,425 shares during the period. 72.67% of the stock is currently owned by institutional investors and hedge funds.
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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