Kontoor Brands (NYSE:KTB) Updates Q4 2024 Earnings Guidance

Kontoor Brands (NYSE:KTB) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.310-1.310 for the period, compared to the consensus estimate of 1.400. The company issued revenue guidance of $695.0 million-$695.0 million, compared to the consensus revenue estimate of $713.4 million. Kontoor Brands also updated its FY 2024 guidance to 4.830-4.830 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KTB shares. Guggenheim raised their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their price target for the stock from $89.00 to $93.00 in a report on Friday. Barclays lifted their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. Finally, UBS Group upped their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Price Performance

NYSE:KTB traded down $3.98 during midday trading on Friday, hitting $81.65. The company had a trading volume of 1,159,909 shares, compared to its average volume of 485,484. The company has a market capitalization of $4.55 billion, a PE ratio of 18.39, a P/E/G ratio of 1.99 and a beta of 1.20. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. Kontoor Brands has a 52-week low of $39.90 and a 52-week high of $89.76. The stock’s fifty day moving average price is $77.81 and its 200-day moving average price is $71.34.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. The firm had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. As a group, research analysts expect that Kontoor Brands will post 4.8 earnings per share for the current year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, December 9th. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.55%. Kontoor Brands’s dividend payout ratio (DPR) is 46.85%.

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.