Kontoor Brands (NYSE:KTB) Updates Q4 Earnings Guidance

by · The Markets Daily

Kontoor Brands (NYSE:KTB – Get Free Report) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.31 for the period, compared to the consensus earnings per share estimate of $1.37. Kontoor Brands also updated its FY 2024 guidance to 4.830-4.830 EPS.

Analysts Set New Price Targets

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

Get Our Latest Stock Analysis on KTB

Kontoor Brands Stock Performance

Shares of KTB traded down $3.98 during mid-day trading on Friday, hitting $81.65. 1,159,909 shares of the company traded hands, compared to its average volume of 373,227. The stock has a 50-day moving average price of $77.81 and a two-hundred day moving average price of $71.46. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 2.23 and a beta of 1.19. 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 1 year low of $39.90 and a 1 year high of $89.76.

Kontoor Brands (NYSE:KTB – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. The company had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Equities analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is currently 45.05%.

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.

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