Wall Street brokerages predict that Gildan Activewear Inc (NYSE:GIL) (TSE:GIL) will report $0.56 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Gildan Activewear’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.58. Gildan Activewear reported earnings per share of $0.53 in the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The business is scheduled to report 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 year, with EPS estimates ranging from $1.85 to $1.89. For the next year, analysts forecast that the firm will post earnings of $2.11 per share, with EPS estimates ranging from $2.07 to $2.14. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Gildan Activewear.

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

Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Gildan Activewear from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine raised Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. TheStreet raised Gildan Activewear from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. TD Securities raised their target price on Gildan Activewear from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, Royal Bank of Canada raised their target price on Gildan Activewear from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Gildan Activewear has an average rating of “Hold” and a consensus price target of $33.00.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIL. Northern Trust Corp increased its position in Gildan Activewear by 2.1% during the first quarter. Northern Trust Corp now owns 580,132 shares of the textile maker’s stock worth $16,761,000 after buying an additional 11,980 shares during the period. Dimensional Fund Advisors LP increased its position in Gildan Activewear by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 162,336 shares of the textile maker’s stock worth $4,690,000 after buying an additional 2,290 shares during the period. Citigroup Inc. increased its position in Gildan Activewear by 29.1% during the first quarter. Citigroup Inc. now owns 36,912 shares of the textile maker’s stock worth $1,065,000 after buying an additional 8,323 shares during the period. Sei Investments Co. increased its position in Gildan Activewear by 58.6% during the first quarter. Sei Investments Co. now owns 178,305 shares of the textile maker’s stock worth $5,151,000 after buying an additional 65,849 shares during the period. Finally, Stifel Financial Corp increased its position in Gildan Activewear by 36.9% during the first quarter. Stifel Financial Corp now owns 9,002 shares of the textile maker’s stock worth $261,000 after buying an additional 2,425 shares during the period. 70.80% of the stock is currently owned by institutional investors.

About Gildan Activewear

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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