Gildan Activewear Inc (TSE:GIL) Issues Earnings Results, Misses Estimates By $0.15 EPS

Gildan Activewear Inc (TSE:GIL) (NYSE:GIL) announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.15, RTT News reports. The firm had revenue of $946.99 million for the quarter, compared to analysts’ expectations of $995.43 million. Gildan Activewear had a return on equity of 20.64% and a net margin of 15.06%. During the same period last year, the firm earned $0.41 EPS.

Shares of Gildan Activewear (GIL) traded down 0.57% on Friday, hitting $38.22. The company’s stock had a trading volume of 682,415 shares. The stock’s 50 day moving average is $38.84 and its 200-day moving average is $36.95. The company has a market cap of $8.58 billion and a price-to-earnings ratio of 23.14. Gildan Activewear has a 52 week low of $30.97 and a 52 week high of $42.18.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 17th will be paid a $0.0935 dividend. This represents a $0.37 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, August 15th.

In related news, Director Michael Hoffman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of C$37.93, for a total value of C$568,950.00.

Several brokerages have recently commented on GIL. BMO Capital Markets reissued an “outperform” rating and set a C$34.00 price target on shares of Gildan Activewear in a research note on Friday, August 4th. National Bank Financial reduced their target price on Gildan Activewear from C$43.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 1st. TD Securities lowered Gildan Activewear from a “buy” rating to a “hold” rating and set a C$41.50 target price on the stock. in a research note on Friday, August 4th. Desjardins upped their target price on Gildan Activewear from C$38.00 to C$42.00 in a research note on Thursday, May 4th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Gildan Activewear in a research note on Thursday, May 4th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of C$40.08.

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Gildan Activewear Company Profile

Gildan Activewear Inc manufactures and sells apparel products in the United States, Canada, Mexico, Europe, the Asia-Pacific, and Latin America. It operates in two segments, Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, and distributes undecorated activewear products, including T-shirts, fleece, and sport shirts under Gildan, Gildan Performance, Anvil, Comfort Colors, American Apparel, Alstyle, and New Balance brands.

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