Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) – Equities research analysts at National Bank Financial lowered their FY2019 earnings per share (EPS) estimates for shares of Gildan Activewear in a research note issued to investors on Thursday, October 31st. National Bank Financial analyst V. Shreedhar now anticipates that the textile maker will post earnings per share of $1.65 for the year, down from their prior forecast of $1.69. National Bank Financial has a “Sector Perform” rating and a $40.00 price objective on the stock. National Bank Financial also issued estimates for Gildan Activewear’s Q4 2019 earnings at $0.40 EPS, Q1 2020 earnings at $0.31 EPS and Q4 2020 earnings at $0.52 EPS.
Several other research analysts also recently issued reports on the company. Bank of America downgraded Gildan Activewear from a “buy” rating to an “underperform” rating and set a $23.00 price target for the company. in a research note on Friday, October 18th. Royal Bank of Canada cut their price target on Gildan Activewear from $36.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, October 18th. Desjardins raised Gildan Activewear to a “hold” rating and set a $40.00 price target for the company in a research note on Monday, October 21st. TD Securities cut their price target on Gildan Activewear from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Friday. Finally, Edward Jones downgraded Gildan Activewear from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Gildan Activewear currently has a consensus rating of “Hold” and a consensus target price of $30.55.
NYSE:GIL opened at $25.87 on Monday. The company has a market capitalization of $5.20 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.20 and a beta of 0.79. The company has a quick ratio of 1.68, a current ratio of 4.33 and a debt-to-equity ratio of 0.55. Gildan Activewear has a 52-week low of $23.45 and a 52-week high of $40.40. The stock has a fifty day simple moving average of $32.72 and a 200-day simple moving average of $36.48.
Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its earnings results on Thursday, October 31st. The textile maker reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $739.70 million for the quarter, compared to analyst estimates of $739.86 million. Gildan Activewear had a net margin of 9.87% and a return on equity of 18.06%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS.
Large investors have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia raised its stake in Gildan Activewear by 28.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,595 shares of the textile maker’s stock valued at $99,000 after purchasing an additional 569 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new position in Gildan Activewear in the 3rd quarter valued at about $98,000. Tower Research Capital LLC TRC raised its stake in Gildan Activewear by 997.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,598 shares of the textile maker’s stock valued at $140,000 after purchasing an additional 3,270 shares during the last quarter. Neuburgh Advisers LLC raised its stake in Gildan Activewear by 11.4% in the 2nd quarter. Neuburgh Advisers LLC now owns 3,744 shares of the textile maker’s stock valued at $139,000 after purchasing an additional 384 shares during the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in Gildan Activewear in the 3rd quarter valued at about $171,000. 67.07% of the stock is owned by institutional investors and hedge funds.
About Gildan Activewear
Gildan Activewear Inc manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America. 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, Comfort Colors, American Apparel, Anvil, Alstyle, and Gold Toe brands.
