Analysts Anticipate Kontoor Brands, Inc. (NYSE:KTB) Will Post Earnings of $1.05 Per Share

Equities analysts forecast that Kontoor Brands, Inc. (NYSE:KTB) will report $1.05 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Kontoor Brands’ earnings, with estimates ranging from $1.02 to $1.08. Kontoor Brands posted earnings per share of $1.33 during the same quarter last year, which would indicate a negative year over year growth rate of 21.1%. The firm is expected to issue its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Kontoor Brands will report full year earnings of $4.09 per share for the current financial year, with EPS estimates ranging from $4.06 to $4.10. For the next fiscal year, analysts anticipate that the business will post earnings of $4.55 per share, with EPS estimates ranging from $4.30 to $4.86. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Kontoor Brands.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $490.77 million during the quarter, compared to the consensus estimate of $492.10 million. Kontoor Brands had a return on equity of 257.55% and a net margin of 8.04%.

Several analysts have issued reports on KTB shares. The Goldman Sachs Group started coverage on shares of Kontoor Brands in a research report on Wednesday, July 14th. They set a “buy” rating and a $69.00 price target on the stock. Zacks Investment Research upgraded Kontoor Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $65.86.

NYSE KTB traded up $0.14 during midday trading on Tuesday, hitting $55.28. The company had a trading volume of 8,367 shares, compared to its average volume of 486,179. Kontoor Brands has a fifty-two week low of $23.34 and a fifty-two week high of $69.16. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.61 and a beta of 1.28. The firm has a fifty day simple moving average of $55.19 and a two-hundred day simple moving average of $57.58. The company has a quick ratio of 1.12, a current ratio of 2.08 and a debt-to-equity ratio of 5.08.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 20th. Shareholders of record on Friday, September 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, September 9th. Kontoor Brands’s dividend payout ratio (DPR) is presently 61.30%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Kontoor Brands by 5.6% in the 1st quarter. BlackRock Inc. now owns 7,790,719 shares of the company’s stock worth $378,083,000 after purchasing an additional 411,544 shares during the period. Vanguard Group Inc. increased its position in shares of Kontoor Brands by 4.3% during the second quarter. Vanguard Group Inc. now owns 5,775,594 shares of the company’s stock worth $325,801,000 after acquiring an additional 236,341 shares in the last quarter. State Street Corp boosted its holdings in Kontoor Brands by 2.4% during the second quarter. State Street Corp now owns 1,778,265 shares of the company’s stock worth $100,312,000 after purchasing an additional 41,604 shares during the last quarter. Jennison Associates LLC raised its position in shares of Kontoor Brands by 6.6% in the first quarter. Jennison Associates LLC now owns 1,259,972 shares of the company’s stock valued at $61,146,000 after purchasing an additional 78,500 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Kontoor Brands by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,066,043 shares of the company’s stock valued at $51,735,000 after buying an additional 15,310 shares during the period. Hedge funds and other institutional investors own 91.83% 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.

Featured Story: Trading Ex-Dividend Strategy

Get a free copy of the Zacks research report on Kontoor Brands (KTB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.