Kontoor Brands (NYSE:KTB) Posts Earnings Results, Beats Expectations By $0.07 EPS

Kontoor Brands (NYSE:KTB) announced its earnings results on Tuesday. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07, Zacks reports. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $698.07 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis.

Kontoor Brands Trading Down 2.0 %

Shares of Kontoor Brands stock opened at $73.10 on Wednesday. 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 business has a fifty day simple moving average of $86.77 and a two-hundred day simple moving average of $83.25. Kontoor Brands has a 1 year low of $52.95 and a 1 year high of $96.80. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.12 and a beta of 1.19.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 46.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KTB shares. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and raised their price target for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Guggenheim boosted their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays cut their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, UBS Group lowered their target price on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $95.17.

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.