Equities research analysts expect Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) to report $712.95 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Gildan Activewear’s earnings. The lowest sales estimate is $694.40 million and the highest is $731.50 million. Gildan Activewear posted sales of $653.70 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The business is expected to announce its next earnings results on Thursday, February 28th.
According to Zacks, analysts expect that Gildan Activewear will report full year sales of $2.88 billion for the current year, with estimates ranging from $2.86 billion to $2.90 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.01 billion, with estimates ranging from $2.99 billion to $3.06 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Gildan Activewear.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Thursday, November 1st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $754.40 million for the quarter, compared to the consensus estimate of $759.15 million. Gildan Activewear had a return on equity of 18.80% and a net margin of 12.28%. Gildan Activewear’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS.
GIL has been the topic of several research reports. Raymond James restated a “strong-buy” rating and set a $40.00 price objective on shares of Gildan Activewear in a report on Friday, November 2nd. ValuEngine downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. TheStreet raised Gildan Activewear from a “c+” rating to a “b+” rating in a research report on Monday, December 17th. Desjardins raised Gildan Activewear from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Finally, Zacks Investment Research raised Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.33.
GIL traded down $0.45 during trading on Wednesday, hitting $31.41. 612,844 shares of the stock were exchanged, compared to its average volume of 511,868. The company has a market capitalization of $6.62 billion, a P/E ratio of 18.26, a PEG ratio of 1.28 and a beta of 0.74. Gildan Activewear has a 1 year low of $25.33 and a 1 year high of $34.40. The company has a quick ratio of 1.79, a current ratio of 4.94 and a debt-to-equity ratio of 0.45.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in Gildan Activewear by 1.8% during the 3rd quarter. FMR LLC now owns 8,683,509 shares of the textile maker’s stock valued at $264,206,000 after acquiring an additional 155,287 shares in the last quarter. Southpoint Capital Advisors LP bought a new stake in Gildan Activewear during the 3rd quarter valued at $129,327,000. Bank of America Corp DE boosted its position in shares of Gildan Activewear by 12.4% in the 2nd quarter. Bank of America Corp DE now owns 2,069,502 shares of the textile maker’s stock worth $58,278,000 after purchasing an additional 228,918 shares in the last quarter. Eaton Vance Management acquired a new stake in shares of Gildan Activewear in the 3rd quarter worth $46,533,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Gildan Activewear by 22.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,000 shares of the textile maker’s stock worth $45,211,000 after purchasing an additional 270,600 shares in the last quarter. 69.95% of the stock is currently owned by institutional investors and hedge funds.
Gildan Activewear Company Profile
Gildan Activewear Inc manufactures and sells a range of 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 company manufactures and markets active wear products, including T-shirts, fleece tops and bottoms, and sport shirts under Gildan, Gildan Performance, Gildan Platinum, Gildan Hammer, Smart Basics, Comfort Colors, American Apparel, Anvil, Alstyle, Gold Toe, and Mossy Oak brands.
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