Kontoor Brands (NYSE:KTB) Releases Q4 2024 Earnings Guidance

Kontoor Brands (NYSE:KTB) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.310-1.310 for the period, compared to the consensus EPS estimate of 1.400. The company issued revenue guidance of $695.0 million-$695.0 million, compared to the consensus revenue estimate of $713.4 million. Kontoor Brands also updated its FY 2024 guidance to 4.830-4.830 EPS.

Analysts Set New Price Targets

KTB has been the subject of several recent research reports. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Friday. UBS Group boosted their target price on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Barclays upped their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday. Guggenheim lifted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company increased their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Stock Down 4.6 %

NYSE KTB traded down $3.98 during trading hours on Friday, reaching $81.65. 1,159,909 shares of the company’s stock traded hands, compared to its average volume of 485,484. Kontoor Brands has a 52-week low of $39.90 and a 52-week high of $89.76. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43. The firm has a 50-day simple moving average of $77.81 and a 200 day simple moving average of $71.34. The firm has a market cap of $4.55 billion, a PE ratio of 18.39, a PEG ratio of 1.99 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm had revenue of $670.19 million for the quarter, compared to analysts’ expectations of $663.45 million. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. Sell-side analysts anticipate that Kontoor Brands will post 4.8 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.55%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is 46.85%.

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.