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 reports. Shareholders of record on Thursday, November 21st will be paid 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 yield of 1.22%. The ex-dividend date is Thursday, November 21st.

Gildan Activewear has increased its dividend payment by an average of 69.1% per year over the last three years. Gildan Activewear has a payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gildan Activewear to earn $3.32 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 24.7%.

Gildan Activewear Price Performance

Shares of NYSE GIL opened at $49.66 on Friday. The company has a market capitalization of $7.80 billion, a PE ratio of 20.35, a PEG ratio of 1.83 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $46.45 and its 200-day moving average price is $40.87. Gildan Activewear has a twelve month low of $28.95 and a twelve month high of $49.92.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $891.10 million during the quarter, compared to the consensus estimate of $882.85 million. Gildan Activewear had a return on equity of 24.96% and a net margin of 13.01%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. On average, equities analysts anticipate that Gildan Activewear will post 2.93 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on GIL. Canaccord Genuity Group upped their price objective on Gildan Activewear from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. CIBC increased their price target on Gildan Activewear from $48.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup boosted their price objective on Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada increased their target price on shares of Gildan Activewear from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gildan Activewear has a consensus rating of “Moderate Buy” and an average price target of $51.05.

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.