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

Kontoor Brands (NYSE:KTB) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.380-1.380 for the period, compared to the consensus EPS 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.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock traded up $0.47 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. The company has a market capitalization of $4.95 billion, a P/E ratio of 20.28, a PEG ratio of 2.03 and a beta of 1.19. Kontoor Brands has a 52-week low of $52.95 and a 52-week high of $96.80. The stock has a 50-day moving average price of $87.13 and a 200-day moving average price of $82.73. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 46.85%.

Wall Street Analysts Forecast Growth

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

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.