Kontoor Brands (NYSE:KTB) Issues Q4 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of ~$1.38 for the period, compared to the consensus EPS estimate of $1.33. The company issued revenue guidance of ~$699 million, compared to the consensus revenue estimate of $697.03 million. Kontoor Brands also updated its Q4 2024 guidance to 1.380-1.380 EPS.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock traded up $0.19 during trading hours on Friday, hitting $89.72. 95,711 shares of the company were exchanged, compared to its average volume of 539,929. Kontoor Brands has a 1 year low of $52.95 and a 1 year high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The business has a 50-day moving average of $87.14 and a 200-day moving average of $82.78. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 2.12 and a beta of 1.19.

Kontoor Brands Announces Dividend

The company also recently declared 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 of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio is currently 46.85%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group decreased their price objective on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company increased their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and increased their price objective for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Barclays increased 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, November 1st. Finally, Guggenheim increased their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.