Gildan Activewear Inc. (NYSE:GIL) Plans Quarterly Dividend of $0.15

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 given a dividend of 0.152 per share by the textile maker on Monday, December 16th. This represents a $0.61 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, November 21st.

Gildan Activewear has raised its dividend by an average of 69.1% per year over the last three years. Gildan Activewear has a dividend payout ratio of 24.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.5 %

GIL opened at $49.66 on Friday. The company has a market cap of $7.80 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.83 and a beta of 1.43. Gildan Activewear has a 12 month low of $28.95 and a 12 month high of $49.92. The business’s 50-day moving average price is $46.45 and its 200-day moving average price is $40.87. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55.

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

Wall Street Analyst Weigh In

GIL has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Gildan Activewear from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada boosted their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. CIBC raised 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 shares of Gildan Activewear from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday. Finally, BMO Capital Markets raised their target price on shares of Gildan Activewear from $47.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.05.

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.