Kontoor Brands (NYSE:KTB) Releases Q4 2024 Earnings Guidance

by · The Markets Daily

Kontoor Brands (NYSE:KTB – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.310-1.310 for the period, compared to the consensus estimate of 1.400. The company issued revenue guidance of $695.0 million-$695.0 million, compared to the consensus revenue estimate of $713.4 million. Kontoor Brands also updated its FY 2024 guidance to 4.830-4.830 EPS.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $81.65 on Friday. The firm’s 50 day moving average price is $77.81 and its 200-day moving average price is $71.46. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.43 and a current ratio of 2.50. Kontoor Brands has a one year low of $39.90 and a one year high of $89.76. The firm has a market cap of $4.55 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.23 and a beta of 1.19.

Kontoor Brands (NYSE:KTB – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.25 by $0.12. The firm had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 EPS. As a group, equities research analysts predict that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.55%. Kontoor Brands’s dividend payout ratio is 45.05%.

Analysts Set New Price Targets

KTB has been the topic of a number of research reports. UBS Group increased their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday. Barclays increased their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Guggenheim increased their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price objective for the company from $89.00 to $93.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

View Our Latest Analysis on KTB

About Kontoor Brands

(Get Free Report)

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.

Featured Articles