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

Kontoor Brands (NYSE:KTB) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.380-1.380 for the period, compared to the consensus earnings per share estimate of 1.330. The company issued revenue guidance of $699.0 million-$699.0 million, compared to the consensus revenue estimate of $697.0 million. Kontoor Brands also updated its Q4 guidance to ~$1.38 EPS.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. UBS Group cut their price target on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday. Wells Fargo & Company upped their price target on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Guggenheim upped their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays upped their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.33.

Kontoor Brands Stock Up 0.5 %

Shares of KTB traded up $0.47 during mid-day trading on Thursday, reaching $89.74. The company’s stock had a trading volume of 80,986 shares, compared to its average volume of 515,187. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80. The company’s 50 day moving average is $87.13 and its 200 day moving average is $82.73. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock has a market cap of $4.95 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. Kontoor Brands’s payout ratio 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.