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

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

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock traded down $0.56 on Thursday, reaching $67.93. 276,099 shares of the company were exchanged, compared to its average volume of 630,413. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 2.12 and a beta of 1.19. Kontoor Brands has a 1-year low of $52.95 and a 1-year high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The company’s 50-day moving average is $86.43 and its two-hundred day moving average is $83.15.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 46.85%.

Wall Street Analyst Weigh In

KTB has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Barclays lowered 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. Wells Fargo & Company increased their target price on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. UBS Group lowered their price target on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Finally, Guggenheim upped their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.