Gildan Activewear Inc. (GIL) to Issue Quarterly Dividend of $0.15 on December 16th

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.152 per share by the textile maker on Monday, December 16th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, November 21st.

Gildan Activewear has increased its dividend by an average of 69.1% per year over the last three years. Gildan Activewear has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Gildan Activewear to earn $3.38 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 24.3%.

Gildan Activewear Stock Up 0.7 %

Shares of GIL opened at $48.63 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.81. The firm has a market cap of $7.49 billion, a P/E ratio of 19.22, a PEG ratio of 1.81 and a beta of 1.44. The stock’s 50 day moving average is $47.31 and its two-hundred day moving average is $41.92. Gildan Activewear has a 12 month low of $30.68 and a 12 month high of $50.58.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last issued its quarterly earnings results on Thursday, October 31st. The textile maker reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Gildan Activewear had a net margin of 13.06% and a return on equity of 26.88%. The company had revenue of $891.10 million during the quarter, compared to analyst estimates of $882.85 million. During the same quarter in the previous year, the firm earned $0.74 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Analysts predict that Gildan Activewear will post 2.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Securities boosted their price target on Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Canaccord Genuity Group lifted their target price on shares of Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets increased their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Gildan Activewear has an average rating of “Moderate Buy” and a consensus target price of $50.85.

Gildan Activewear Company Profile

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.