Kontoor Brands (NYSE:KTB) Issues Q2 Earnings Guidance

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

Analysts Set New Price Targets

Several research firms recently weighed in on KTB. Edward Jones lowered shares of Kontoor Brands from a buy rating to a hold rating in a research note on Friday, January 26th. UBS Group raised their price target 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. Barclays dropped their price target on shares of Kontoor Brands from $75.00 to $65.00 and set an overweight rating on the stock in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group raised their price target on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a buy rating in a research note on Thursday, February 29th. One investment 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, the stock has a consensus rating of Moderate Buy and a consensus target price of $70.40.

Kontoor Brands Trading Up 8.3 %

Kontoor Brands stock opened at $67.30 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. Kontoor Brands has a 1 year low of $37.10 and a 1 year high of $69.69. The firm’s 50 day moving average price is $58.98 and its two-hundred day moving average price is $56.96.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $669.80 million during the quarter, compared to analyst estimates of $720.70 million. Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. On average, research analysts predict that Kontoor Brands will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.97%. The ex-dividend date is Monday, June 10th. Kontoor Brands’s payout ratio is 49.26%.

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.