Q3 2019 Earnings Estimate for Kontoor Brands Issued By Piper Jaffray Companies (NYSE:KTB)

Kontoor Brands (NYSE:KTB) – Investment analysts at Piper Jaffray Companies lowered their Q3 2019 EPS estimates for Kontoor Brands in a research note issued on Thursday, August 8th. Piper Jaffray Companies analyst E. Murphy now expects that the company will post earnings of $0.90 per share for the quarter, down from their previous forecast of $1.04. Piper Jaffray Companies currently has a “Neutral” rating and a $29.00 target price on the stock. Piper Jaffray Companies also issued estimates for Kontoor Brands’ FY2019 earnings at $3.90 EPS, Q1 2020 earnings at $0.88 EPS, Q2 2020 earnings at $0.92 EPS, Q3 2020 earnings at $0.98 EPS and FY2020 earnings at $3.95 EPS.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.29. The business had revenue of $609.74 million during the quarter, compared to analyst estimates of $591.36 million. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis.



A number of other equities research analysts also recently weighed in on KTB. Guggenheim began coverage on shares of Kontoor Brands in a research report on Monday, June 17th. They issued a “buy” rating and a $35.00 price target for the company. Bank of America lifted their price target on shares of Kontoor Brands from $24.00 to $28.00 and gave the company an “underperform” rating in a research report on Friday, August 9th. Zacks Investment Research downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Edward Jones began coverage on shares of Kontoor Brands in a research report on Friday, May 24th. They issued a “hold” rating for the company. Finally, Goldman Sachs Group began coverage on shares of Kontoor Brands in a research report on Friday, May 17th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.50.

NYSE KTB opened at $32.30 on Monday. The company has a debt-to-equity ratio of 12.41, a current ratio of 2.37 and a quick ratio of 1.02. Kontoor Brands has a 1-year low of $25.78 and a 1-year high of $41.75. The company has a 50 day simple moving average of $30.56.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CENTRAL TRUST Co acquired a new position in Kontoor Brands during the second quarter valued at approximately $25,000. Arbor Wealth Management LLC acquired a new position in Kontoor Brands during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in Kontoor Brands during the second quarter valued at approximately $28,000. Blackhill Capital Inc. acquired a new position in Kontoor Brands during the second quarter valued at approximately $29,000. Finally, Toth Financial Advisory Corp acquired a new position in Kontoor Brands during the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 5.19% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, September 9th. This represents a $2.24 annualized dividend and a yield of 6.93%.

See Also: Equity Income

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

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