Kontoor Brands (NYSE:KTB) Issues Quarterly Earnings Results

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

Kontoor Brands Price Performance

NYSE:KTB traded down $1.72 during mid-day trading on Friday, hitting $65.65. 1,008,759 shares of the stock traded hands, compared to its average volume of 584,365. The business’s 50-day moving average price is $59.10 and its 200 day moving average price is $57.18. The company has a market cap of $3.66 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. Kontoor Brands has a 12-month low of $37.10 and a 12-month high of $69.69. The company has a quick ratio of 1.38, a current ratio of 2.70 and a debt-to-equity ratio of 1.96.

Kontoor Brands Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on KTB shares. Edward Jones downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. UBS Group lifted their target price on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Barclays lifted their target price on shares of Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group lifted their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.