Gildan Activewear Inc. (TSE:GIL) Declares Dividend Increase – $0.23 Per Share

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) announced a quarterly dividend on Wednesday, March 12th, TickerTech Dividends reports. Investors of record on Monday, April 7th will be given a dividend of 0.226 per share on Monday, April 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, March 12th. This is a 10.2% increase from Gildan Activewear’s previous quarterly dividend of $0.21.

Gildan Activewear Price Performance

Gildan Activewear stock opened at C$71.17 on Monday. The company has a market cap of C$7.73 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 4.55 and a beta of 1.64. The firm’s fifty day moving average is C$72.70 and its 200 day moving average is C$67.87. The company has a quick ratio of 0.87, a current ratio of 2.31 and a debt-to-equity ratio of 101.26. Gildan Activewear has a 52-week low of C$44.23 and a 52-week high of C$79.11.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last released its quarterly earnings results on Wednesday, February 19th. The company reported C$0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.01. Gildan Activewear had a net margin of 13.05% and a return on equity of 23.10%. During the same quarter in the prior year, the business earned $0.75 EPS. Sell-side analysts forecast that Gildan Activewear will post 4.5460385 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Michael Schroeder sold 4,299 shares of Gildan Activewear stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of C$78.02, for a total value of C$335,428.68. Also, Senior Officer Benito Masi sold 10,000 shares of Gildan Activewear stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of C$69.31, for a total transaction of C$693,102.00. Insiders have sold a total of 118,483 shares of company stock worth $9,147,454 in the last three months. Corporate insiders own 2.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GIL shares. Desjardins increased their target price on shares of Gildan Activewear from C$82.00 to C$87.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. UBS Group raised shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. Finally, National Bankshares increased their target price on shares of Gildan Activewear from C$78.00 to C$83.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$68.50.

About Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts to wholesalers and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels.