Gildan Activewear Inc
GIL: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 73.00 | Tfgnbg | Kymnwthn |
Gildan Earnings: Strategic Plans Progressing Despite Soft Start to Year; Shares Fairly Valued
Gildan’s 2023 first-quarter sales and earnings fell slightly short of our estimates, but management attributed this to the timing of orders for (higher-margin) fleece and reiterated its full-year guidance. Thus, we anticipate sales growth and margin improvement as the year progresses and do not expect to make any material changes to our fair value estimates of $31.50/CAD 43.00 per share, both of which are close to market levels at present.