Gildan Activewear (TSE:GIL) Announces Earnings Results

Gildan Activewear (TSE:GIL) (NYSE:GIL) issued its quarterly earnings data on Wednesday. The company reported C$0.83 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.01, RTT News reports. Gildan Activewear had a return on equity of 23.10% and a net margin of 13.05%. During the same quarter last year, the firm posted $0.75 earnings per share.

Gildan Activewear Stock Up 1.9 %

Shares of GIL stock traded up C$1.37 on Wednesday, reaching C$75.07. 42,229 shares of the company’s stock traded hands, compared to its average volume of 294,560. Gildan Activewear has a 12-month low of C$44.23 and a 12-month high of C$76.29. The company has a debt-to-equity ratio of 101.26, a quick ratio of 0.87 and a current ratio of 2.31. The company has a market capitalization of C$8.15 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 4.55 and a beta of 1.64. The business’s 50 day moving average price is C$70.55 and its two-hundred day moving average price is C$65.77.

Gildan Activewear Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Thursday, November 21st. Gildan Activewear’s payout ratio is 29.76%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GIL. UBS Group upgraded Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. National Bankshares raised their price target on Gildan Activewear from C$68.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$57.20.

Insider Activity

In other Gildan Activewear news, Senior Officer Benito Masi sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total value of C$693,102.00. 2.26% of the stock is currently owned by corporate insiders.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.