Kontoor Brands (NYSE:KTB) Releases Earnings Results, Beats Estimates By $0.26 EPS

Kontoor Brands (NYSE:KTB) posted its quarterly earnings data on Thursday. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.90 by $0.26, Briefing.com reports. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The business had revenue of $631.20 million for the quarter, compared to the consensus estimate of $607.91 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. Kontoor Brands’s revenue for the quarter was down 5.4% on a year-over-year basis. Kontoor Brands updated its Q2 guidance to approx $0.85 EPS.

Kontoor Brands Price Performance

Kontoor Brands stock traded down $1.72 during midday trading on Friday, reaching $65.65. 1,008,759 shares of the stock were exchanged, compared to its average volume of 584,365. Kontoor Brands has a 52 week low of $37.10 and a 52 week high of $69.69. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.38 and a current ratio of 2.70. The firm has a market cap of $3.66 billion, a PE ratio of 16.62, a PEG ratio of 1.79 and a beta of 1.11. The company’s fifty day moving average is $59.10 and its 200-day moving average is $57.18.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.05%. Kontoor Brands’s dividend payout ratio (DPR) is currently 50.63%.

Wall Street Analyst Weigh In

KTB has been the topic of a number of recent research reports. Barclays upped their price target on Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group upped their price objective on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday. UBS Group lifted their target price on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Edward Jones downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus target price of $75.20.

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.