Kontoor Brands (NYSE:KTB) Issues Q4 Earnings Guidance

Kontoor Brands (NYSE:KTB) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.31 for the period, compared to the consensus estimate of $1.37. Kontoor Brands also updated its FY 2024 guidance to 4.830-4.830 EPS.

Kontoor Brands Stock Performance

Shares of NYSE:KTB traded down $3.98 on Friday, reaching $81.65. The company’s stock had a trading volume of 1,159,909 shares, compared to its average volume of 373,227. Kontoor Brands has a 52-week low of $39.90 and a 52-week high of $89.76. The stock has a market capitalization of $4.55 billion, a P/E ratio of 18.39, a PEG ratio of 2.23 and a beta of 1.19. The stock’s 50-day moving average is $77.81 and its two-hundred day moving average is $71.46. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.43.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.25 by $0.12. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter in the prior year, the business earned $1.22 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Increases Dividend

The firm 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 $0.52 dividend. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is currently 45.05%.

Analysts Set New Price Targets

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