Equities research analysts expect that Kontoor Brands, Inc. (NYSE:KTB) will announce earnings per share of $1.04 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Kontoor Brands’ earnings, with the highest EPS estimate coming in at $1.22 and the lowest estimate coming in at $0.85. Kontoor Brands reported earnings per share of $0.27 during the same quarter last year, which indicates a positive year-over-year growth rate of 285.2%. The firm is expected to report its next earnings report before the market opens on Thursday, May 6th.
On average, analysts expect that Kontoor Brands will report full year earnings of $3.71 per share for the current fiscal year, with EPS estimates ranging from $3.64 to $3.78. For the next financial year, analysts forecast that the firm will post earnings of $4.13 per share, with EPS estimates ranging from $3.85 to $4.40. Zacks’ EPS averages are an average based on a survey of analysts that cover Kontoor Brands.
Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Monday, March 1st. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.27. Kontoor Brands had a net margin of 2.56% and a return on equity of 1,685.31%. The business had revenue of $660.90 million for the quarter, compared to analysts’ expectations of $639.34 million. During the same quarter in the previous year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year.
Shares of Kontoor Brands stock traded down $0.18 during trading on Tuesday, hitting $64.30. 636,596 shares of the company’s stock traded hands, compared to its average volume of 470,543. The business has a 50-day simple moving average of $56.21 and a 200-day simple moving average of $44.79. Kontoor Brands has a 1 year low of $13.53 and a 1 year high of $67.74. The stock has a market capitalization of $3.69 billion, a P/E ratio of 70.09, a PEG ratio of 2.20 and a beta of 1.10. The company has a debt-to-equity ratio of 39.25, a current ratio of 2.21 and a quick ratio of 1.27.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 18th. Shareholders of record on Tuesday, June 8th will be given a $0.40 dividend. The ex-dividend date is Monday, June 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. Kontoor Brands’s dividend payout ratio is currently 41.67%.
In other Kontoor Brands news, CAO Susan Denise Sumner sold 20,876 shares of the stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $54.85, for a total transaction of $1,145,048.60. Following the sale, the chief accounting officer now directly owns 19,879 shares in the company, valued at approximately $1,090,363.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Kontoor Brands by 4.2% in the fourth quarter. BlackRock Inc. now owns 7,379,175 shares of the company’s stock valued at $299,299,000 after buying an additional 299,525 shares during the last quarter. Alliancebernstein L.P. increased its stake in Kontoor Brands by 3,613.2% in the 4th quarter. Alliancebernstein L.P. now owns 2,565,139 shares of the company’s stock valued at $104,042,000 after purchasing an additional 2,496,058 shares in the last quarter. Northern Trust Corp raised its position in Kontoor Brands by 239.7% during the fourth quarter. Northern Trust Corp now owns 2,233,482 shares of the company’s stock worth $90,590,000 after acquiring an additional 1,575,989 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Kontoor Brands by 77.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,050,733 shares of the company’s stock worth $42,618,000 after acquiring an additional 458,284 shares during the last quarter. Finally, SummerHaven Investment Management LLC purchased a new position in Kontoor Brands in the 4th quarter valued at about $1,018,000. 87.46% of the stock is currently owned by institutional investors.
Kontoor Brands Company Profile
Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes apparel under the Wrangler and Lee brands in the United States and internationally. The company sells its products primarily through mass and mid-tier retailers, specialty stores, department stores, and retailer-owned and third-party e-commerce sites, as well as through direct-to-consumer channels, including full-price and outlet stores, and its websites.
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