Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) – National Bank Financial cut their Q3 2019 earnings per share (EPS) estimates for shares of Gildan Activewear in a research note issued to investors on Thursday, October 17th. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.57. National Bank Financial also issued estimates for Gildan Activewear’s FY2019 earnings at $1.69 EPS, Q3 2020 earnings at $0.59 EPS and FY2020 earnings at $2.00 EPS.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Gildan Activewear from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada decreased their price target on shares of Gildan Activewear from $36.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, October 18th. Edward Jones downgraded shares of Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Monday. CIBC set a $30.00 price target on shares of Gildan Activewear and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Desjardins upgraded shares of Gildan Activewear to a “hold” rating and set a $40.00 price target for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Gildan Activewear has a consensus rating of “Hold” and a consensus price target of $30.60.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Gildan Activewear had a net margin of 10.14% and a return on equity of 18.48%. The business had revenue of $801.60 million during the quarter, compared to analysts’ expectations of $793.91 million. During the same period last year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia raised its holdings in Gildan Activewear by 28.1% during the second quarter. Commonwealth Bank of Australia now owns 2,595 shares of the textile maker’s stock worth $99,000 after purchasing an additional 569 shares in the last quarter. Neuburgh Advisers LLC raised its holdings in Gildan Activewear by 11.4% during the second quarter. Neuburgh Advisers LLC now owns 3,744 shares of the textile maker’s stock worth $139,000 after purchasing an additional 384 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Gildan Activewear by 997.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,598 shares of the textile maker’s stock worth $140,000 after purchasing an additional 3,270 shares in the last quarter. Glen Harbor Capital Management LLC raised its holdings in Gildan Activewear by 11.4% during the second quarter. Glen Harbor Capital Management LLC now owns 5,148 shares of the textile maker’s stock worth $191,000 after purchasing an additional 528 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Gildan Activewear during the second quarter worth approximately $201,000. 66.97% of the stock is currently owned by institutional investors.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
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