Kontoor Brands (NYSE:KTB) Issues Quarterly Earnings Results

Kontoor Brands (NYSE:KTB) released its earnings results on Thursday. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12, Briefing.com reports. The firm had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS.

Kontoor Brands Stock Performance

Shares of KTB stock traded down $3.97 during trading hours on Friday, reaching $81.66. The company had a trading volume of 1,158,691 shares, compared to its average volume of 485,484. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. The business has a fifty day moving average price of $77.65 and a 200-day moving average price of $71.15. Kontoor Brands has a one year low of $39.90 and a one year high of $89.76. The firm has a market cap of $4.55 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20.

Kontoor Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.28%.

Analysts Set New Price Targets

Several analysts recently weighed in on KTB shares. Guggenheim upped their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group upped their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Barclays raised their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the stock from $89.00 to $93.00 in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company 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.