Kontoor Brands (NYSE:KTB) Issues Q2 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of approx $0.85 for the period, compared to the consensus EPS estimate of $1.04.

Kontoor Brands Stock Performance

KTB stock traded down $1.72 on Friday, reaching $65.65. 1,008,759 shares of the company were exchanged, compared to its average volume of 584,365. Kontoor Brands has a 12 month low of $37.10 and a 12 month high of $69.69. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.38. The stock’s fifty day moving average price is $59.10 and its 200 day moving average price is $57.26. The firm has a market capitalization of $3.66 billion, a PE ratio of 16.62, a PEG ratio of 1.74 and a beta of 1.11.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.26. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The firm had revenue of $631.20 million for the quarter, compared to the consensus estimate of $607.91 million. During the same quarter in the previous year, the company earned $1.16 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. On average, research analysts anticipate that Kontoor Brands will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KTB shares. The Goldman Sachs Group boosted their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a buy rating in a research note on Friday. 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 boosted their target price on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a buy rating in a research note on Friday, February 16th. Finally, Barclays lifted their price target on Kontoor Brands from $65.00 to $76.00 and gave the company an overweight rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of Moderate Buy and a consensus target price of $75.20.

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.