Kontoor Brands (NYSE:KTB) Announces Quarterly Earnings Results

Kontoor Brands (NYSE:KTB) released its quarterly earnings data on Thursday. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.26, Briefing.com reports. The firm had revenue of $631.20 million during the quarter, compared to analyst estimates of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. Kontoor Brands updated its Q2 guidance to approx $0.85 EPS.

Kontoor Brands Trading Down 2.6 %

NYSE KTB opened at $65.65 on Friday. The stock has a 50-day simple moving average of $59.10 and a 200 day simple moving average of $57.26. Kontoor Brands has a 12 month low of $37.10 and a 12 month high of $69.69. The company has a market capitalization of $3.66 billion, a PE ratio of 16.62, a P/E/G ratio of 1.74 and a beta of 1.11. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 1.96.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s payout ratio is 50.63%.

Wall Street Analyst Weigh In

KTB has been the topic of several research reports. UBS Group upped their price target on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Barclays increased their price target on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group boosted their price objective on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Edward Jones lowered Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.20.

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.