Kontoor Brands (NYSE:KTB) Issues Q2 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of approx $0.85 for the period, compared to the consensus EPS estimate of $1.04.

Kontoor Brands Trading Down 2.6 %

NYSE KTB traded down $1.72 during trading hours on Friday, hitting $65.65. 1,008,759 shares of the company’s stock were exchanged, compared to its average volume of 584,365. The business’s 50 day moving average is $59.10 and its 200-day moving average is $57.26. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.38 and a current ratio of 2.70. Kontoor Brands has a 12-month low of $37.10 and a 12-month high of $69.69. The firm has a market capitalization of $3.66 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.26. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The business had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. During the same period in the prior year, the firm posted $1.16 EPS. The company’s revenue was down 5.4% on a year-over-year basis. As a group, analysts anticipate that Kontoor Brands will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 3.05%. Kontoor Brands’s dividend payout ratio is presently 50.63%.

Analyst Ratings Changes

KTB has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Kontoor Brands from $68.00 to $77.00 and gave the company a buy rating in a report on Friday. Edward Jones lowered Kontoor Brands from a buy rating to a hold rating in a research note on Friday, January 26th. UBS Group boosted their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a buy rating in a report on Friday, February 16th. Finally, Barclays raised their price target on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an overweight rating in a report on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kontoor Brands has a consensus rating of Moderate Buy and an average target price of $75.20.

Kontoor Brands Company Profile

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.