Kontoor Brands (NYSE:KTB) Updates FY 2021 Earnings Guidance

Kontoor Brands (NYSE:KTB) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.150-$4.200 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.120. The company issued revenue guidance of $2.47 billion-$2.48 billion, compared to the consensus revenue estimate of $2.43 billion.

NYSE KTB traded down $1.46 during midday trading on Thursday, hitting $58.46. The company had a trading volume of 340,797 shares, compared to its average volume of 479,117. The company has a quick ratio of 1.15, a current ratio of 1.96 and a debt-to-equity ratio of 4.19. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.77 and a beta of 1.27. The firm has a fifty day simple moving average of $54.16 and a two-hundred day simple moving average of $56.81. Kontoor Brands has a fifty-two week low of $35.48 and a fifty-two week high of $69.16.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.25. The company had revenue of $652.30 million for the quarter, compared to analyst estimates of $615.12 million. Kontoor Brands had a net margin of 7.93% and a return on equity of 183.88%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS. As a group, equities analysts predict that Kontoor Brands will post 4.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 20th. Shareholders of record on Friday, December 10th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.15%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is currently 48.48%.

KTB has been the topic of several research analyst reports. Barclays raised their price target on shares of Kontoor Brands from $86.00 to $87.00 and gave the stock an overweight rating in a research report on Friday, November 5th. Zacks Investment Research upgraded shares of Kontoor Brands from a sell rating to a hold rating and set a $68.00 target price on the stock in a research report on Friday, November 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $72.83.

A number of institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new position in Kontoor Brands in the third quarter valued at about $246,000. LPL Financial LLC boosted its position in Kontoor Brands by 23.1% in the third quarter. LPL Financial LLC now owns 15,114 shares of the company’s stock valued at $755,000 after buying an additional 2,833 shares in the last quarter. UBS Group AG boosted its position in Kontoor Brands by 12.2% in the third quarter. UBS Group AG now owns 60,276 shares of the company’s stock valued at $3,010,000 after buying an additional 6,537 shares in the last quarter. Finally, Morgan Stanley boosted its position in Kontoor Brands by 129.6% in the second quarter. Morgan Stanley now owns 450,063 shares of the company’s stock valued at $25,388,000 after buying an additional 254,019 shares in the last quarter. Hedge funds and other institutional investors own 91.57% of the company’s stock.

About Kontoor Brands

Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.

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Earnings History and Estimates for Kontoor Brands (NYSE:KTB)

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