Kontoor Brands (NYSE:KTB) Releases Q4 Earnings Guidance

Kontoor Brands (NYSE:KTB) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.31 for the period, compared to the consensus estimate of $1.37. Kontoor Brands also updated its FY 2024 guidance to 4.830-4.830 EPS.

Wall Street Analyst Weigh In

KTB has been the subject of several research reports. UBS Group increased their price objective on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Barclays boosted their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday. Guggenheim raised their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price objective for the company from $89.00 to $93.00 in a report on Friday. Finally, Wells Fargo & Company upped their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Stock Down 4.6 %

NYSE KTB traded down $3.98 on Friday, hitting $81.65. The stock had a trading volume of 1,159,909 shares, compared to its average volume of 373,227. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.43. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. Kontoor Brands has a 52-week low of $39.90 and a 52-week high of $89.76. The business’s fifty day moving average price is $77.81 and its 200 day moving average price is $71.46.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.12. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. During the same quarter in the previous year, the business earned $1.22 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current year.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be paid a $0.52 dividend. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.55%. Kontoor Brands’s dividend payout ratio is presently 45.05%.

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.