Gildan Activewear Inc. to Post Q2 2023 Earnings of $0.80 Per Share, Desjardins Forecasts (TSE:GIL)

Posted by Defense World Staff on May 6th, 2023

Gildan Activewear Inc. (TSE:GIL – Get Rating) (NYSE:GIL) – Analysts at Desjardins decreased their Q2 2023 EPS estimates for Gildan Activewear in a research note issued to investors on Thursday, May 4th. Desjardins analyst C. Li now expects that the company will post earnings of $0.80 per share for the quarter, down from their previous forecast of $0.97. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.22 per share. Desjardins also issued estimates for Gildan Activewear’s Q3 2023 earnings at $1.21 EPS, Q4 2023 earnings at $1.18 EPS, FY2023 earnings at $3.81 EPS and FY2024 earnings at $4.30 EPS.

A number of other brokerages have also recently weighed in on GIL. Royal Bank of Canada boosted their price objective on shares of Gildan Activewear from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup cut their target price on shares of Gildan Activewear from C$48.00 to C$43.00 in a research note on Friday, February 17th. Finally, National Bankshares upped their target price on shares of Gildan Activewear from C$46.00 to C$48.00 and gave the company an “outperform” rating in a research note on Thursday.

Gildan Activewear Price Performance

Shares of Gildan Activewear stock opened at C$39.49 on Friday. The firm has a fifty day simple moving average of C$43.40 and a 200-day simple moving average of C$40.92. The company has a current ratio of 2.69, a quick ratio of 0.87 and a debt-to-equity ratio of 55.62. Gildan Activewear has a 1-year low of C$33.83 and a 1-year high of C$46.20. The stock has a market capitalization of C$7.10 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.73 and a beta of 1.42.

Gildan Activewear (TSE:GIL – Get Rating) (NYSE:GIL) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported C$0.88 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.01). Gildan Activewear had a return on equity of 28.49% and a net margin of 16.71%. The firm had revenue of C$977.58 million during the quarter, compared to analyst estimates of C$1.02 billion.

Gildan Activewear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 19th. Stockholders of record on Wednesday, May 24th will be issued a dividend of $0.186 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Tuesday, May 23rd. Gildan Activewear’s payout ratio is 25.00%.

About Gildan Activewear

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Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Comfort Colors, American Apparel, Alstyle, and GoldToe brands.