Kontoor Brands (NYSE:KTB) Issues Q2 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of approx $0.85 for the period, compared to the consensus earnings per share estimate of $1.04.

Kontoor Brands Price Performance

NYSE KTB traded down $1.72 on Friday, hitting $65.65. The company had a trading volume of 1,008,759 shares, compared to its average volume of 584,365. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.38. The company’s fifty day moving average price is $59.10 and its 200-day moving average price is $57.26. The company has a market capitalization of $3.66 billion, a PE ratio of 16.62, a PEG ratio of 1.74 and a beta of 1.11. Kontoor Brands has a 12-month low of $37.10 and a 12-month high of $69.69.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, topping 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 business had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. During the same quarter in the previous year, the company earned $1.16 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, analysts predict that Kontoor Brands will post 4.7 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s payout ratio is 50.63%.

Analyst Ratings Changes

A number of brokerages have weighed in on KTB. Edward Jones lowered Kontoor Brands from a buy rating to a hold rating in a report on Friday, January 26th. The Goldman Sachs Group boosted their target price on Kontoor Brands from $68.00 to $77.00 and gave the stock a buy rating in a report on Friday. UBS Group raised their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, Barclays boosted their price target on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an overweight rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $75.20.

Kontoor Brands Company Profile

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.