Gildan Activewear (NYSE:GIL) Releases Quarterly Earnings Results, Misses Expectations By $0.78 EPS
Gildan Activewear (NYSE:GIL) (TSE:GIL) announced its quarterly earnings results on Thursday. The textile maker reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.78), MarketWatch Earnings reports. Gildan Activewear had a positive return on equity of 0.35% and a negative net margin of 10.14%. The business had revenue of $229.70 million during the quarter, compared to analysts’ expectations of $241.40 million. During the same period in the previous year, the company posted $0.56 EPS. Gildan Activewear’s revenue for the quarter was down 71.3% on a year-over-year basis.
Gildan Activewear stock traded down $0.15 during mid-day trading on Friday, reaching $17.76. 764,108 shares of the company traded hands, compared to its average volume of 631,527. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.41 and a quick ratio of 2.35. Gildan Activewear has a fifty-two week low of $9.42 and a fifty-two week high of $40.29. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of -16.29, a price-to-earnings-growth ratio of 22.26 and a beta of 1.35. The firm’s fifty day moving average is $15.80 and its two-hundred day moving average is $18.57.
Several brokerages have recently weighed in on GIL. Zacks Investment Research raised shares of Gildan Activewear from a “sell” rating to a “hold” rating in a research report on Tuesday, July 21st. UBS Group began coverage on shares of Gildan Activewear in a research report on Wednesday, July 22nd. They issued a “neutral” rating and a $16.00 price target for the company. TD Securities upped their price target on shares of Gildan Activewear from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity reaffirmed a “hold” rating and issued a $13.00 price target (down previously from $14.00) on shares of Gildan Activewear in a research report on Thursday, April 23rd. Finally, National Bank Financial raised shares of Gildan Activewear from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $27.00 in a research report on Friday, July 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target 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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