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

Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends 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 1.25%. The ex-dividend date of this dividend 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. Equities research 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 Performance

NYSE GIL opened at $48.63 on Tuesday. The stock has a fifty day simple moving average of $47.31 and a 200-day simple moving average of $41.92. 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 stock has a market cap of $7.49 billion, a PE ratio of 19.22, a P/E/G ratio of 1.81 and a beta of 1.44. Gildan Activewear has a twelve month low of $30.68 and a twelve month high of $50.58.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Canaccord Genuity Group upped their price target on Gildan Activewear from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their target price on Gildan Activewear from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. CIBC lifted their target price on Gildan Activewear from $48.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Securities increased their price target on shares of Gildan Activewear from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lifted their price objective on shares of Gildan Activewear from $47.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gildan Activewear has a consensus rating of “Moderate Buy” and an average price target of $50.85.

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.