Kontoor Brands (KTB) Set to Announce Earnings on Thursday

Kontoor Brands (NYSE:KTB) will announce its earnings results before the market opens on Thursday, August 1st. Analysts expect Kontoor Brands to post earnings of $0.86 per share for the quarter. Kontoor Brands has set its Q2 guidance at approx $0.85 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The company had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. During the same period in the prior year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, analysts expect Kontoor Brands to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Kontoor Brands Stock Down 0.1 %

Shares of NYSE KTB opened at $69.69 on Wednesday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 1.83 and a beta of 1.16. Kontoor Brands has a 1 year low of $39.90 and a 1 year high of $74.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.42 and a current ratio of 2.70. The stock’s 50-day simple moving average is $68.76 and its 200-day simple moving average is $63.62.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, September 10th. Kontoor Brands’s payout ratio is 50.63%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KTB. Barclays lifted their price target on shares of Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Stifel Nicolaus boosted their target price on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, The Goldman Sachs Group increased their price target on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

Insider Transactions at Kontoor Brands

In related news, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the sale, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at approximately $1,112,824.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Susan Denise Sumner sold 4,713 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the sale, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at approximately $1,112,824.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott H. Baxter sold 29,212 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total value of $2,089,242.24. Following the transaction, the chief executive officer now owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

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.