$0.56 Earnings Per Share Expected for Gildan Activewear Inc (GIL) This Quarter

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Brokerages forecast that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will report earnings of $0.56 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Gildan Activewear’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.58. Gildan Activewear reported earnings of $0.53 per share in the same quarter last year, which indicates a positive year over year growth rate of 5.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Gildan Activewear will report full-year earnings of $1.87 per share for the current fiscal year, with EPS estimates ranging from $1.85 to $1.89. For the next year, analysts forecast that the business will report earnings of $2.11 per share, with EPS estimates ranging from $2.07 to $2.14. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Gildan Activewear.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings results on Thursday, August 2nd. The textile maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Gildan Activewear had a return on equity of 18.53% and a net margin of 12.51%. The firm had revenue of $764.20 million during the quarter, compared to the consensus estimate of $728.72 million. During the same quarter in the prior year, the firm posted $0.48 EPS. The business’s revenue was up 6.8% on a year-over-year basis.

A number of equities analysts have weighed in on GIL shares. Bank of America downgraded Gildan Activewear from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $34.00 to $26.00 in a research report on Tuesday, July 24th. ValuEngine raised Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Desjardins downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. They noted that the move was a valuation call. TheStreet raised Gildan Activewear from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. Finally, Zacks Investment Research raised Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.

NYSE:GIL traded up $0.34 during trading hours on Friday, reaching $29.15. 706,314 shares of the stock were exchanged, compared to its average volume of 498,186. Gildan Activewear has a twelve month low of $25.33 and a twelve month high of $34.19. The company has a quick ratio of 1.76, a current ratio of 5.06 and a debt-to-equity ratio of 0.47. The company has a market cap of $6.32 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X Management Co LLC boosted its holdings in shares of Gildan Activewear by 145.3% in the 2nd quarter. Global X Management Co LLC now owns 6,390 shares of the textile maker’s stock valued at $180,000 after buying an additional 3,785 shares during the last quarter. Lester Murray Antman dba SimplyRich acquired a new stake in shares of Gildan Activewear in the 2nd quarter valued at approximately $205,000. Allianz Asset Management GmbH acquired a new stake in shares of Gildan Activewear in the 1st quarter valued at approximately $208,000. Jane Street Group LLC acquired a new stake in shares of Gildan Activewear in the 2nd quarter valued at approximately $221,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Gildan Activewear in the 2nd quarter valued at approximately $250,000. 70.80% of the stock is owned by institutional investors.

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

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