Shares of Gildan Activewear, Inc. (NYSE:GIL) (TSE:GIL) have earned an average recommendation of “Hold” from the ten analysts that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $31.67.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Gildan Activewear from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, September 26th. Macquarie assumed coverage on Gildan Activewear in a research report on Wednesday, November 1st. They issued a “neutral” rating for the company. Finally, BMO Capital Markets reissued a “buy” rating and issued a $34.00 target price on shares of Gildan Activewear in a research report on Friday, October 20th.
Several institutional investors have recently bought and sold shares of GIL. Tobam boosted its stake in Gildan Activewear by 17.0% during the 2nd quarter. Tobam now owns 126,700 shares of the textile maker’s stock valued at $3,888,000 after purchasing an additional 18,400 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Gildan Activewear by 52.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 12,610 shares of the textile maker’s stock valued at $388,000 after purchasing an additional 4,364 shares during the last quarter. Marathon Asset Management LLP purchased a new stake in Gildan Activewear during the 3rd quarter valued at $12,991,000. Alliancebernstein L.P. boosted its stake in Gildan Activewear by 59.5% during the 2nd quarter. Alliancebernstein L.P. now owns 24,599 shares of the textile maker’s stock valued at $756,000 after purchasing an additional 9,180 shares during the last quarter. Finally, AGF Investments Inc. boosted its stake in Gildan Activewear by 8,373.2% during the 2nd quarter. AGF Investments Inc. now owns 543,472 shares of the textile maker’s stock valued at $16,710,000 after purchasing an additional 537,058 shares during the last quarter. Institutional investors own 72.15% of the company’s stock.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its earnings results on Thursday, November 2nd. The textile maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Gildan Activewear had a return on equity of 18.80% and a net margin of 14.21%. The firm had revenue of $716.40 million during the quarter, compared to analyst estimates of $748.86 million. During the same quarter in the prior year, the company earned $0.50 EPS. The business’s revenue was up .2% compared to the same quarter last year. research analysts expect that Gildan Activewear will post 1.71 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be paid a $0.094 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.38 annualized dividend and a dividend yield of 1.23%. Gildan Activewear’s payout ratio is currently 22.02%.
Gildan Activewear announced that its board has authorized a stock repurchase program on Thursday, November 2nd that authorizes the company to repurchase 4,600,000 outstanding shares. This repurchase authorization authorizes the textile maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
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About Gildan Activewear
Gildan Activewear Inc is a manufacturer and marketer of branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery and shapewear. The Company operates through two segments: Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, markets, and distributes undecorated activewear products.
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