Kontoor Brands (NYSE:KTB) released its quarterly earnings results on Thursday. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08, Briefing.com reports. The business had revenue of $638.00 million for the quarter, compared to the consensus estimate of $646.22 million. During the same period in the prior year, the business posted $1.25 earnings per share. Kontoor Brands’s revenue was down 9.4% compared to the same quarter last year.
NYSE:KTB traded up $1.00 during mid-day trading on Friday, reaching $36.01. 845,753 shares of the company’s stock were exchanged, compared to its average volume of 1,142,565. Kontoor Brands has a one year low of $25.78 and a one year high of $41.75. The business’s fifty day moving average is $36.74. The company has a debt-to-equity ratio of 12.64, a quick ratio of 1.07 and a current ratio of 2.49.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Monday, December 9th.
In other news, Director Richard Carucci bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $33.15 per share, with a total value of $165,750.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Juliana L. Chugg bought 8,400 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $29.96 per share, for a total transaction of $251,664.00. The disclosure for this purchase can be found here.
A number of equities analysts recently commented on the stock. Macquarie assumed coverage on shares of Kontoor Brands in a research report on Monday, October 21st. They set a “neutral” rating on the stock. Zacks Investment Research lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. ValuEngine lowered shares of Kontoor Brands from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Guggenheim reaffirmed a “buy” rating on shares of Kontoor Brands in a research report on Thursday, August 22nd. Finally, Bank of America raised their price target on shares of Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.36.
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