Brokerages expect Kontoor Brands (NYSE:KTB) to post sales of $653.85 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kontoor Brands’ earnings. The lowest sales estimate is $651.00 million and the highest is $656.70 million. The firm is expected to report its next quarterly earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Kontoor Brands will report full year sales of $2.57 billion for the current fiscal year, with estimates ranging from $2.57 billion to $2.58 billion. For the next year, analysts forecast that the business will report sales of $2.62 billion, with estimates ranging from $2.60 billion to $2.63 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Kontoor Brands.
Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, August 8th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.29. The business had revenue of $609.74 million for the quarter, compared to analysts’ expectations of $591.36 million. During the same quarter in the previous year, the business posted $1.18 earnings per share. Kontoor Brands’s revenue for the quarter was down 8.2% on a year-over-year basis.
In other news, Director Juliana L. Chugg bought 8,400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $29.96 per share, with a total value of $251,664.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Carucci bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $33.15 per share, with a total value of $165,750.00. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legacy Advisors LLC purchased a new stake in Kontoor Brands in the 2nd quarter worth about $76,000. JPMorgan Chase & Co. purchased a new stake in Kontoor Brands in the 2nd quarter worth about $2,097,000. Commonwealth Bank of Australia purchased a new stake in Kontoor Brands in the 2nd quarter worth about $138,000. M&T Bank Corp purchased a new stake in Kontoor Brands in the 2nd quarter worth about $241,000. Finally, AMG National Trust Bank purchased a new stake in Kontoor Brands in the 2nd quarter worth about $5,679,000.
NYSE KTB traded up $0.02 during mid-day trading on Friday, reaching $34.65. The stock had a trading volume of 632,400 shares, compared to its average volume of 1,118,399. Kontoor Brands has a 1 year low of $25.78 and a 1 year high of $41.75. The business’s fifty day moving average price is $34.31. The company has a quick ratio of 1.07, a current ratio of 2.49 and a debt-to-equity ratio of 12.64.
The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date was Monday, September 9th.
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