Zacks: Brokerages Expect Kontoor Brands, Inc. (NYSE:KTB) Will Announce Quarterly Sales of $687.35 Million

Analysts forecast that Kontoor Brands, Inc. (NYSE:KTB) will report sales of $687.35 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Kontoor Brands’ earnings. The lowest sales estimate is $685.70 million and the highest is $689.00 million. Kontoor Brands reported sales of $660.87 million in the same quarter last year, which indicates a positive year over year growth rate of 4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, March 1st.

On average, analysts expect that Kontoor Brands will report full-year sales of $2.48 billion for the current financial year. For the next fiscal year, analysts expect that the company will report sales of $2.67 billion, with estimates ranging from $2.66 billion to $2.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Kontoor Brands.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.25. The business had revenue of $652.30 million during the quarter, compared to analyst estimates of $615.12 million. Kontoor Brands had a return on equity of 183.88% and a net margin of 7.93%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 earnings per share.

KTB has been the subject of several analyst reports. Barclays increased their price objective on Kontoor Brands from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, November 5th. Zacks Investment Research upgraded Kontoor Brands from a “sell” rating to a “hold” rating and set a $68.00 price objective for the company in a research report on Friday, November 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands presently has a consensus rating of “Buy” and an average target price of $72.83.

KTB stock opened at $58.46 on Friday. The company has a debt-to-equity ratio of 4.19, a current ratio of 1.96 and a quick ratio of 1.15. The business has a 50 day simple moving average of $54.24 and a 200-day simple moving average of $56.83. The firm has a market capitalization of $3.35 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. Kontoor Brands has a 1 year low of $35.48 and a 1 year high of $69.16.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 20th. Stockholders of record on Friday, December 10th will be given a dividend of $0.46 per share. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is currently 48.48%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in shares of Kontoor Brands by 273.6% during the second quarter. O Shaughnessy Asset Management LLC now owns 1,061 shares of the company’s stock worth $60,000 after buying an additional 777 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Kontoor Brands by 31.6% in the third quarter. Jones Financial Companies Lllp now owns 1,269 shares of the company’s stock valued at $63,000 after acquiring an additional 305 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Kontoor Brands by 35.1% in the second quarter. Lazard Asset Management LLC now owns 1,243 shares of the company’s stock valued at $70,000 after acquiring an additional 323 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Kontoor Brands by 402.0% in the second quarter. Meeder Asset Management Inc. now owns 1,270 shares of the company’s stock valued at $72,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Bbva USA acquired a new stake in shares of Kontoor Brands in the second quarter valued at $82,000. Institutional investors and hedge funds own 91.57% of the company’s stock.

Kontoor Brands Company Profile

Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.

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

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