Gildan Activewear Inc. (NYSE: GIL) stock fell -0.60% on Thursday to $28.15 against a previous-day closing price of $28.32. With 0.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.48 million shares. During the session, the Apparel Manufacturing company that operates in wider Consumer Cyclical sector, reached to the highest price of $28.69 whereas the lowest price it dropped to was $28.08. The 52-week range on GIL shows that it touched its highest point at $34.33 and its lowest point at $26.30 during that stretch. It currently has a 1-year price target of $36.74. With its current market cap of 4.96 billion, GIL has annualized dividend of $0.74 while the current yield stands at 2.64%. Beta for the stock currently stands at 1.29.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GIL was down-trending over the past week, with a drop of -0.42%, but this was down by -7.00% over a month. Three-month performance dropped to -6.60% while six-month performance fell -8.75%. The stock lost -13.28% in the past year, while it has gained 2.74% so far this year. A look at the trailing 12-month EPS for GIL yields 2.72 with Next year EPS estimates of 3.11. For the next quarter, that number is 0.74. This implies an EPS growth rate of -4.50% for this year and 20.86% for next year. EPS is expected to grow by 3.01% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 12.70%.
Float and Shares Shorts:
At present, 177.62 million GIL shares are outstanding with a float of 171.66 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.8 million, which was 2.17% higher than short shares on Jul 30, 2023. In addition to Mr. Glenn J. Chamandy as the firm’s Founder, Pres, CEO & Non-Independent Director, Mr. Rhodri J. Harries serves as its Exec. VP and Chief Financial & Admin. Officer.
Other institutions hold 43.68% of GIL, in contrast to 41.85% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in GIL with 7.09% of the stake, Jarislowsky, Fraser Ltd. holds 12,644,689 shares worth 12,644,689. A second-largest stockholder of GIL, Pzena Investment Management LLC, holds 10,827,937 shares, controlling over 6.08% of the firm’s shares. Coliseum Capital Management LLC is the third largest shareholder in GIL, holding 10,662,735 shares or 5.98% stake. With a 3.44% stake in GIL, the Vanguard Windsor Funds – Vanguard is the largest stakeholder. A total of 6,139,590 shares are owned by the mutual fund manager. The Janus Henderson Enterprise Fund, which owns about 2.98% of GIL stock, is the second-largest Mutual Fund holder. It holds 5,314,487 shares valued at 165.28 million. Vanguard Selected Value Fund holds 1.95% of the stake in GIL, owning 3,479,628 shares worth 108.22 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jul 01, 2023, GIL reported revenue of $895.58M and operating income of $176.60M. The EBITDA in the recently reported quarter was $206.75M and diluted EPS was $0.85.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GIL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GIL analysts setting a high price target of $40.00 and a low target of $34.41, the average target price over the next 12 months is $36.78. Based on these targets, GIL could surge 42.1% to reach the target high and rise by 22.24% to reach the target low. Reaching the average price target will result in a growth of 30.66% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GIL stock several times over the past three months with 41 Buys and 3 Sells. In these transactions, 1,314,453 shares were bought while 1,712,700 shares were sold. The number of buy transactions has increased to 239 while that of sell transactions has risen to 30 over the past year. The total number of shares bought during that period was 8,504,649 while 7,513,474 shares were sold.