Kontoor Brands (NYSE:KTB) Issues FY 2021 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.700-3.800 for the period, compared to the Thomson Reuters consensus estimate of $3.680. The company issued revenue guidance of -.

Shares of Kontoor Brands stock traded up $4.08 during trading on Friday, reaching $65.43. The company’s stock had a trading volume of 364,705 shares, compared to its average volume of 469,832. The business has a 50 day moving average price of $58.96 and a 200-day moving average price of $46.60. Kontoor Brands has a 12-month low of $13.53 and a 12-month high of $69.16. The company has a market capitalization of $3.75 billion, a P/E ratio of 71.12, a price-to-earnings-growth ratio of 2.20 and a beta of 1.10. The company has a quick ratio of 1.27, a current ratio of 2.21 and a debt-to-equity ratio of 39.25.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, May 6th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.04 by $0.39. The company had revenue of $651.76 million for the quarter, compared to analyst estimates of $608.75 million. Kontoor Brands had a net margin of 2.56% and a return on equity of 1,685.31%. The business’s revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. Research analysts predict that Kontoor Brands will post 2.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Stockholders of record on Tuesday, June 8th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.45%. Kontoor Brands’s payout ratio is 41.67%.

KTB has been the subject of several research analyst reports. Piper Sandler raised their price objective on Kontoor Brands from $59.00 to $70.00 and gave the company an overweight rating in a research note on Monday, April 12th. Barclays lifted their price target on Kontoor Brands from $56.00 to $82.00 and gave the stock an overweight rating in a research note on Friday, May 7th. Zacks Investment Research raised shares of Kontoor Brands from a hold rating to a buy rating and set a $53.00 price objective on the stock in a research note on Wednesday, March 3rd. Finally, UBS Group upgraded shares of Kontoor Brands from a neutral rating to a buy rating in a research report on Tuesday, April 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $47.63.

In related news, CAO Susan Denise Sumner sold 20,876 shares of the business’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $54.85, for a total value of $1,145,048.60. Following the completion of the sale, the chief accounting officer now directly owns 19,879 shares in the company, valued at $1,090,363.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

Kontoor Brands Company Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes apparel under the Wrangler and Lee brands in the United States and internationally. The company sells its products primarily through mass and mid-tier retailers, specialty stores, department stores, and retailer-owned and third-party e-commerce sites, as well as through direct-to-consumer channels, including full-price and outlet stores, and its websites.

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Earnings History and Estimates for Kontoor Brands (NYSE:KTB)

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