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

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Thursday, May 23rd will be paid a dividend of 0.205 per share by the textile maker on Monday, June 17th. This represents a $0.82 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, May 22nd.

Gildan Activewear has increased its dividend payment by an average of 69.1% annually over the last three years and has increased its dividend every year for the last 1 years. Gildan Activewear has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 3.1 %

Shares of Gildan Activewear stock traded down $1.06 on Thursday, hitting $33.53. 1,632,003 shares of the company’s stock traded hands, compared to its average volume of 814,826. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.83. Gildan Activewear has a one year low of $26.98 and a one year high of $38.87. The firm’s 50-day moving average price is $35.59 and its two-hundred day moving average price is $33.97. The stock has a market capitalization of $5.65 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.31 and a beta of 1.38.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last released its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Gildan Activewear had a net margin of 16.70% and a return on equity of 23.19%. 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 company earned $0.45 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts expect that Gildan Activewear will post 2.94 EPS for the current fiscal year.

Analyst Ratings Changes

GIL has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price objective on shares of Gildan Activewear from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup upped their target price on shares of Gildan Activewear from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. UBS Group lowered shares of Gildan Activewear from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $37.00 in a research note on Friday, January 5th. TD Securities upped their target price on shares of Gildan Activewear from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, CIBC increased their price objective on shares of Gildan Activewear from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.95.

About Gildan Activewear

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.