Kontoor Brands (NYSE:KTB – Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.10, Briefing.com reports. The firm had revenue of $607.00 million for the quarter, compared to analysts’ expectations of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share.
Kontoor Brands Trading Down 4.1 %
NYSE KTB traded down $2.92 during trading on Friday, hitting $69.12. 727,287 shares of the company’s stock traded hands, compared to its average volume of 474,475. The stock has a fifty day moving average of $68.67 and a two-hundred day moving average of $63.81. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.42. Kontoor Brands has a 12-month low of $39.90 and a 12-month high of $74.90. The firm has a market cap of $3.86 billion, a P/E ratio of 17.50, a PEG ratio of 1.88 and a beta of 1.16.
Kontoor Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.00 annualized dividend and a yield of 2.89%. Kontoor Brands’s payout ratio is 50.63%.
Insider Buying and Selling at Kontoor Brands
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on KTB. Barclays upped their price target on shares of Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus upped their target price on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. The Goldman Sachs Group upped their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Guggenheim upped their target price on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.83.
Read Our Latest Stock Report on Kontoor Brands
About Kontoor Brands
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.
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