Gildan Activewear Inc. (NYSE:GIL) to Post Q1 2022 Earnings of $0.54 Per Share, National Bank Financial Forecasts

Gildan Activewear Inc. (NYSE:GILGet Rating) (TSE:GIL) – Investment analysts at National Bank Financial lifted their Q1 2022 earnings estimates for Gildan Activewear in a report issued on Tuesday, April 19th. National Bank Financial analyst V. Shreedhar now forecasts that the textile maker will post earnings of $0.54 per share for the quarter, up from their previous estimate of $0.51. National Bank Financial also issued estimates for Gildan Activewear’s Q3 2022 earnings at $0.83 EPS, Q4 2022 earnings at $0.78 EPS, Q1 2023 earnings at $0.59 EPS, Q2 2023 earnings at $0.82 EPS, Q3 2023 earnings at $0.92 EPS, Q4 2023 earnings at $0.86 EPS and FY2023 earnings at $3.19 EPS.

Other analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Gildan Activewear from C$48.00 to C$51.00 in a report on Thursday, February 24th. StockNews.com initiated coverage on Gildan Activewear in a report on Thursday, March 31st. They set a “hold” rating on the stock. Canaccord Genuity Group raised their target price on Gildan Activewear from $47.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, February 24th. TD Securities lifted their price objective on Gildan Activewear from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, February 24th. Finally, Zacks Investment Research upgraded Gildan Activewear from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, January 19th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $50.45.

Shares of NYSE:GIL opened at $35.38 on Thursday. The company has a current ratio of 3.12, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36. Gildan Activewear has a 1 year low of $31.97 and a 1 year high of $43.63. The business has a fifty day simple moving average of $37.43 and a 200 day simple moving average of $39.12. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.59 and a beta of 1.46.

Gildan Activewear (NYSE:GILGet Rating) (TSE:GIL) last issued its earnings results on Wednesday, February 23rd. The textile maker reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.18. Gildan Activewear had a return on equity of 29.59% and a net margin of 20.77%. The business had revenue of $784.30 million during the quarter, compared to analysts’ expectations of $734.18 million. During the same quarter last year, the firm posted $0.45 earnings per share. Gildan Activewear’s revenue was up 13.6% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Gildan Activewear by 8.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 202,171 shares of the textile maker’s stock worth $7,590,000 after acquiring an additional 15,290 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in Gildan Activewear by 32.4% in the 1st quarter. Virginia Retirement Systems ET AL now owns 391,600 shares of the textile maker’s stock worth $14,701,000 after purchasing an additional 95,900 shares during the last quarter. Koshinski Asset Management Inc. raised its position in Gildan Activewear by 100.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,907 shares of the textile maker’s stock worth $109,000 after purchasing an additional 1,458 shares during the last quarter. SG Capital Management LLC bought a new position in Gildan Activewear in the 1st quarter worth approximately $1,880,000. Finally, Ritholtz Wealth Management bought a new position in Gildan Activewear in the 1st quarter worth approximately $212,000. 76.63% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 11th. Stockholders of record on Thursday, March 17th were issued a $0.169 dividend. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Wednesday, March 16th. Gildan Activewear’s payout ratio is presently 22.08%.

About Gildan Activewear (Get Rating)

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.

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Earnings History and Estimates for Gildan Activewear (NYSE:GIL)

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