Kontoor Brands (NYSE:KTB) Issues Q4 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KTB shares. Wells Fargo & Company boosted their price target on shares of 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 $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus increased their target price on Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Barclays lifted their price target on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, UBS Group increased their price objective on Kontoor Brands from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Kontoor Brands Stock Performance

Shares of KTB opened at $83.73 on Thursday. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The stock has a market cap of $4.67 billion, a P/E ratio of 19.38, a P/E/G ratio of 2.04 and a beta of 1.20. The business’s 50 day moving average price is $77.36 and its 200-day moving average price is $71.05. Kontoor Brands has a 52 week low of $39.90 and a 52 week high of $84.88.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.88 by $0.10. The business had revenue of $607.00 million for the quarter, compared to the consensus estimate of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. Equities research 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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.48%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands’s dividend payout ratio is 52.66%.

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.