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.
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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