Gildan Activewear (NYSE:GIL) (TSE:GIL) announced its earnings results on Thursday. The textile maker reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.78), MarketWatch Earnings reports. The company had revenue of $229.70 million during the quarter, compared to the consensus estimate of $241.40 million. Gildan Activewear had a negative net margin of 10.14% and a positive return on equity of 0.35%. The business’s quarterly revenue was down 71.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS.
GIL stock traded down $0.15 during midday trading on Friday, hitting $17.76. 764,108 shares of the company traded hands, compared to its average volume of 631,527. Gildan Activewear has a twelve month low of $9.42 and a twelve month high of $40.29. The company has a quick ratio of 2.35, a current ratio of 5.41 and a debt-to-equity ratio of 0.99. The business has a 50 day simple moving average of $15.80 and a 200-day simple moving average of $18.57. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -16.29, a price-to-earnings-growth ratio of 22.45 and a beta of 1.35.
GIL has been the subject of a number of research analyst reports. ValuEngine raised shares of Gildan Activewear from a “hold” rating to a “buy” rating in a report on Saturday. TheStreet raised shares of Gildan Activewear from a “d+” rating to a “c-” rating in a research note on Monday, July 6th. UBS Group assumed coverage on shares of Gildan Activewear in a research note on Wednesday, July 22nd. They set a “neutral” rating and a $16.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Gildan Activewear from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, BMO Capital Markets upped their target price on Gildan Activewear from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Gildan Activewear presently has a consensus rating of “Hold” and a consensus target price of $24.36.
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.
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