Kontoor Brands (NYSE:KTB) Releases FY 2021 Earnings Guidance

Kontoor Brands (NYSE:KTB) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.150-$4.200 for the period, compared to the Thomson Reuters consensus estimate of $4.120. The company issued revenue guidance of $2.47 billion-$2.48 billion, compared to the consensus revenue estimate of $2.43 billion.

A number of brokerages have recently issued reports on KTB. Zacks Investment Research upgraded Kontoor Brands from a sell rating to a hold rating and set a $68.00 target price on the stock in a research report on Friday, November 5th. Barclays increased their target price on Kontoor Brands from $86.00 to $87.00 and gave the company an overweight rating in a research report on Friday, November 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $72.83.

NYSE KTB traded down $1.46 during mid-day trading on Thursday, hitting $58.46. The stock had a trading volume of 340,797 shares, compared to its average volume of 479,117. The firm’s 50 day moving average is $54.16 and its 200 day moving average is $56.81. Kontoor Brands has a twelve month low of $35.48 and a twelve month high of $69.16. The company has a debt-to-equity ratio of 4.19, a current ratio of 1.96 and a quick ratio of 1.15. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.77 and a beta of 1.27.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, November 4th. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.25. Kontoor Brands had a return on equity of 183.88% and a net margin of 7.93%. The firm had revenue of $652.30 million during the quarter, compared to the consensus estimate of $615.12 million. During the same period in the prior year, the company earned $1.33 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Kontoor Brands will post 4.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 20th. Shareholders of record on Friday, December 10th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, December 9th. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.15%. Kontoor Brands’s dividend payout ratio (DPR) is 48.48%.

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter worth $246,000. LPL Financial LLC increased its position in shares of Kontoor Brands by 23.1% during the 3rd quarter. LPL Financial LLC now owns 15,114 shares of the company’s stock worth $755,000 after purchasing an additional 2,833 shares during the last quarter. UBS Group AG increased its position in shares of Kontoor Brands by 12.2% during the 3rd quarter. UBS Group AG now owns 60,276 shares of the company’s stock worth $3,010,000 after purchasing an additional 6,537 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Kontoor Brands by 129.6% during the 2nd quarter. Morgan Stanley now owns 450,063 shares of the company’s stock worth $25,388,000 after purchasing an additional 254,019 shares during the last quarter. 91.57% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Company Profile

Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.

Further Reading: Mutual Funds

Earnings History and Estimates for Kontoor Brands (NYSE:KTB)

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