Kontoor Brands (NYSE:KTB) announced its quarterly earnings data on Thursday. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.08, Briefing.com reports. The firm had revenue of $638.00 million for the quarter, compared to the consensus estimate of $646.22 million. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share.
KTB traded up $1.00 during trading on Friday, hitting $36.01. 845,753 shares of the company traded hands, compared to its average volume of 1,142,565. The stock has a 50-day moving average price of $36.74. Kontoor Brands has a 1 year low of $25.78 and a 1 year high of $41.75. 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, December 9th. This represents a $2.24 annualized dividend and a yield of 6.22%.
Several equities analysts recently weighed in on KTB shares. Guggenheim reaffirmed a “buy” rating on shares of Kontoor Brands in a research note on Thursday, August 22nd. ValuEngine cut shares of Kontoor Brands from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Macquarie started coverage on shares of Kontoor Brands in a research note on Monday, October 21st. They set a “neutral” rating for the company. Bank of America raised their target price on shares of Kontoor Brands from $24.00 to $28.00 and gave the company an “underperform” rating in a research note on Friday, August 9th. Finally, Zacks Investment Research cut shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.36.
In other Kontoor Brands news, Director Juliana L. Chugg acquired 8,400 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $29.96 per share, with a total value of $251,664.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Carucci acquired 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average cost of $33.15 per share, with a total value of $165,750.00. The disclosure for this purchase can be found here.
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