Equities research analysts expect Kontoor Brands, Inc. (NYSE:KTB) to announce sales of $648.00 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Kontoor Brands’ earnings. The lowest sales estimate is $635.00 million and the highest is $661.00 million. Kontoor Brands posted sales of $652.61 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.7%. The business is scheduled to report its next earnings report on Thursday, March 4th.

According to Zacks, analysts expect that Kontoor Brands will report full year sales of $2.08 billion for the current financial year, with estimates ranging from $2.07 billion to $2.10 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.41 billion, with estimates ranging from $2.38 billion to $2.44 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Kontoor Brands.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.75. Kontoor Brands had a return on equity of 1,685.31% and a net margin of 2.56%. The company had revenue of $583.00 million for the quarter, compared to analysts’ expectations of $549.10 million. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year.

A number of research firms have commented on KTB. Bank of America upgraded Kontoor Brands from an “underperform” rating to a “buy” rating and upped their price target for the stock from $17.00 to $38.00 in a research note on Monday, October 26th. Barclays upgraded Kontoor Brands from an “equal weight” rating to an “overweight” rating and set a $32.00 price target on the stock in a research note on Wednesday, October 7th. Piper Sandler increased their price objective on Kontoor Brands from $29.00 to $36.00 in a research note on Tuesday, October 13th. The Goldman Sachs Group increased their price objective on Kontoor Brands from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. Finally, Zacks Investment Research upgraded Kontoor Brands from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Wednesday, October 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $31.30.

Several hedge funds have recently modified their holdings of KTB. Morgan Stanley grew its holdings in shares of Kontoor Brands by 299.3% during the first quarter. Morgan Stanley now owns 1,345,256 shares of the company’s stock worth $25,787,000 after purchasing an additional 1,008,371 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Kontoor Brands by 127.7% during the third quarter. Jennison Associates LLC now owns 1,619,390 shares of the company’s stock worth $39,189,000 after purchasing an additional 908,277 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Kontoor Brands during the third quarter worth about $16,770,000. Scopus Asset Management L.P. purchased a new position in shares of Kontoor Brands during the third quarter worth about $13,310,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Kontoor Brands during the third quarter worth about $10,137,000. 89.71% of the stock is currently owned by institutional investors.

NYSE:KTB opened at $42.18 on Thursday. The company has a quick ratio of 1.27, a current ratio of 2.21 and a debt-to-equity ratio of 39.25. The stock’s fifty day moving average is $31.95 and its two-hundred day moving average is $22.62. Kontoor Brands has a 52 week low of $12.90 and a 52 week high of $43.24. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 3.64 and a beta of 0.91.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Thursday, December 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, December 9th.

About Kontoor Brands

Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, sources, markets, and distributes apparel under the Wrangler and Lee brands in the United States and internationally. The company sells its products primarily through mass and mid-tier retailers, specialty stores, department stores, and retailer-owned and third-party e-commerce sites, as well as through direct-to-consumer channels, including full-price stores, outlet stores, and its websites.

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Earnings History and Estimates for Kontoor Brands (NYSE:KTB)

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