Kontoor Brands (NYSE:KTB – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of approx $0.85 for the period, compared to the consensus earnings per share estimate of $1.04.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on KTB. UBS Group raised their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a buy rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a buy rating in a report on Friday. Barclays boosted their price target on shares of Kontoor Brands from $65.00 to $76.00 and gave the stock an overweight rating in a research report on Friday. Finally, Edward Jones lowered Kontoor Brands from a buy rating to a hold rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $75.20.
View Our Latest Stock Analysis on Kontoor Brands
Kontoor Brands Stock Performance
Kontoor Brands (NYSE:KTB – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. The firm had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. Kontoor Brands’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $1.16 EPS. Equities research analysts predict that Kontoor Brands will post 4.7 EPS for the current year.
Kontoor Brands Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s dividend payout ratio is presently 50.63%.
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.
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