Gildan Activewear Inc. (NYSE:GIL) to Issue Quarterly Dividend of $0.21

Gildan Activewear Inc. (NYSE:GILGet Free Report) (TSE:GIL) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Thursday, May 23rd will be given a dividend of 0.205 per share by the textile maker on Monday, June 17th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 22nd.

Gildan Activewear has raised its dividend by an average of 69.1% annually over the last three years and has raised its dividend every year for the last 1 years. Gildan Activewear has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gildan Activewear to earn $3.23 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 25.4%.

Gildan Activewear Price Performance

Shares of NYSE:GIL opened at $35.80 on Tuesday. The firm’s 50 day moving average price is $35.43 and its 200-day moving average price is $34.48. The stock has a market capitalization of $6.04 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.38. Gildan Activewear has a twelve month low of $26.98 and a twelve month high of $38.87. The company has a quick ratio of 0.92, a current ratio of 2.38 and a debt-to-equity ratio of 0.48.

Gildan Activewear (NYSE:GILGet Free Report) (TSE:GIL) last issued its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a return on equity of 24.00% and a net margin of 16.14%. The business had revenue of $695.80 million during the quarter, compared to analysts’ expectations of $692.94 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts expect that Gildan Activewear will post 2.94 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus upped their target price on shares of Gildan Activewear from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, February 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 price objective on shares of Gildan Activewear in a research report on Monday, April 8th. Canaccord Genuity Group increased their target price on Gildan Activewear from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, TD Securities boosted their price target on Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.95.

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Gildan Activewear Company Profile

(Get Free Report)

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.

See Also

Dividend History for Gildan Activewear (NYSE:GIL)

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