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.

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

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