Kontoor Brands, Inc. (NYSE:KTB) Expected to Announce Earnings of $0.97 Per Share

Brokerages forecast that Kontoor Brands, Inc. (NYSE:KTB) will post earnings per share (EPS) of $0.97 for the current quarter, Zacks reports. Two analysts have made estimates for Kontoor Brands’ earnings, with the lowest EPS estimate coming in at $0.95 and the highest estimate coming in at $1.00. Kontoor Brands also reported earnings per share of $0.97 during the same quarter last year. The company is scheduled to announce its next earnings report before the market opens on Tuesday, March 2nd.

On average, analysts expect that Kontoor Brands will report full year earnings of $2.36 per share for the current financial year, with EPS estimates ranging from $2.35 to $2.40. For the next fiscal year, analysts forecast that the company will post earnings of $3.37 per share, with EPS estimates ranging from $3.00 to $3.64. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Kontoor Brands.

Several research firms have recently weighed in on KTB. Guggenheim increased their price target on Kontoor Brands from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, December 30th. The Goldman Sachs Group lowered shares of Kontoor Brands from a “buy” rating to a “neutral” rating and raised their price objective for the company from $38.00 to $42.00 in a research report on Thursday, December 10th. Bank of America upgraded Kontoor Brands from an “underperform” rating to a “buy” rating and raised their price target for the company from $17.00 to $38.00 in a research report on Monday, October 26th. Finally, Zacks Investment Research lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.89.

Several institutional investors and hedge funds have recently bought and sold shares of KTB. Alliancebernstein L.P. grew its position in Kontoor Brands by 3,613.2% during the 4th quarter. Alliancebernstein L.P. now owns 2,565,139 shares of the company’s stock valued at $104,042,000 after purchasing an additional 2,496,058 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Kontoor Brands by 239.7% during the fourth quarter. Northern Trust Corp now owns 2,233,482 shares of the company’s stock valued at $90,590,000 after buying an additional 1,575,989 shares during the last quarter. SummerHaven Investment Management LLC bought a new stake in shares of Kontoor Brands during the fourth quarter valued at approximately $1,018,000. Jennison Associates LLC raised its holdings in Kontoor Brands by 127.7% in the 3rd quarter. Jennison Associates LLC now owns 1,619,390 shares of the company’s stock worth $39,189,000 after acquiring an additional 908,277 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new position in shares of Kontoor Brands in the third quarter worth $16,770,000. 87.46% of the stock is owned by hedge funds and other institutional investors.

NYSE:KTB traded down $0.09 during trading hours on Tuesday, reaching $44.01. The stock had a trading volume of 11,477 shares, compared to its average volume of 425,772. Kontoor Brands has a 12-month low of $12.90 and a 12-month high of $47.14. The company has a debt-to-equity ratio of 39.25, a quick ratio of 1.27 and a current ratio of 2.21. The stock has a 50 day simple moving average of $41.63 and a 200 day simple moving average of $34.30. The stock has a market cap of $2.52 billion, a P/E ratio of 47.94, a price-to-earnings-growth ratio of 2.20 and a beta of 1.10.

About Kontoor Brands

Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, sources, 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 stores, outlet stores, and its websites.

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

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