Kontoor Brands (NYSE:KTB – Get Free Report) announced its earnings results on Thursday. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.10, Briefing.com reports. The business had revenue of $607.00 million during the quarter, compared to analysts’ expectations of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share.
Kontoor Brands Stock Down 4.1 %
Shares of NYSE KTB traded down $2.92 during mid-day trading on Friday, reaching $69.12. 727,287 shares of the company traded hands, compared to its average volume of 474,475. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.42 and a current ratio of 2.74. The stock has a market cap of $3.86 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. The company’s fifty day moving average is $68.67 and its two-hundred day moving average is $63.86. Kontoor Brands has a fifty-two week low of $39.90 and a fifty-two week high of $74.90.
Kontoor Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio is 50.63%.
Insider Activity
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on KTB. Barclays increased their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group increased their price objective on Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Guggenheim raised their price target on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus raised their price target on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.83.
View Our Latest Research Report on KTB
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.
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