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

Kontoor Brands (NYSE:KTB) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. 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.

Analyst Ratings Changes

Several research analysts have commented on KTB shares. Guggenheim upped their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday. Barclays raised their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group raised their price target on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the company from $89.00 to $93.00 in a research report on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Trading Down 4.6 %

Shares of NYSE KTB traded down $3.98 during mid-day trading on Friday, hitting $81.65. 1,159,909 shares of the company traded hands, compared to its average volume of 485,484. The business has a 50 day moving average of $77.81 and a two-hundred day moving average of $71.34. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. Kontoor Brands has a 1 year low of $39.90 and a 1 year high of $89.76. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.99 and a beta of 1.20.

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

Kontoor Brands Increases Dividend

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