Kontoor Brands (NYSE:KTB) Releases Q4 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of ~$1.38 for the period, compared to the consensus estimate of $1.33. The company issued revenue guidance of ~$699 million, compared to the consensus revenue estimate of $697.03 million. Kontoor Brands also updated its Q4 2024 guidance to 1.380-1.380 EPS.

Kontoor Brands Trading Up 4.2 %

NYSE KTB traded up $3.59 on Wednesday, reaching $89.33. The stock had a trading volume of 1,667,670 shares, compared to its average volume of 528,265. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.98 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80. The stock has a fifty day moving average price of $87.18 and a two-hundred day moving average price of $82.57.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is 46.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KTB. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. UBS Group cut their price objective on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Tuesday. Guggenheim upped their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price objective on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays upped their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.67.

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.