Kontoor Brands (NYSE:KTB) Issues Earnings Results

Kontoor Brands (NYSE:KTB) issued its quarterly earnings data on Thursday. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11, Briefing.com reports. The business had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 EPS.

Kontoor Brands Trading Down 4.6 %

Shares of Kontoor Brands stock traded down $3.98 during midday trading on Friday, reaching $81.65. 1,159,909 shares of the company’s stock traded hands, compared to its average volume of 373,227. Kontoor Brands has a 12 month low of $39.90 and a 12 month high of $89.76. The company has a market cap of $4.55 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The stock has a 50 day moving average of $77.81 and a 200-day moving average of $71.46. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.43 and a current ratio of 2.50.

Kontoor Brands Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.