Kontoor Brands (NYSE:KTB) Updates Q4 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.31 for the period, compared to the consensus EPS estimate of $1.37. Kontoor Brands also updated its FY 2024 guidance to 4.830-4.830 EPS.

Analysts Set New Price Targets

Several research firms have issued reports on KTB. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research note on Friday. UBS Group upped their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company raised their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Guggenheim upped their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays raised their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Stock Down 4.6 %

KTB stock traded down $3.98 during trading on Friday, reaching $81.65. The stock had a trading volume of 1,159,909 shares, compared to its average volume of 373,227. The firm has a fifty day moving average price of $77.81 and a 200 day moving average price of $71.46. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $4.55 billion, a P/E ratio of 18.39, a PEG ratio of 2.23 and a beta of 1.19. Kontoor Brands has a 1-year low of $39.90 and a 1-year high of $89.76.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.25 by $0.12. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $670.19 million for the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, December 9th. Kontoor Brands’s dividend payout ratio is 45.05%.

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.