Kontoor Brands (NYSE:KTB) Issues Q4 Earnings Guidance

Kontoor Brands (NYSE:KTB) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of ~$1.38 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

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

Kontoor Brands Stock Performance

KTB traded up $0.19 during mid-day trading on Thursday, reaching $89.46. 254,959 shares of the company traded hands, compared to its average volume of 518,878. The stock has a market capitalization of $4.93 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.03 and a beta of 1.19. 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 has a 52-week low of $52.95 and a 52-week high of $96.80. The company’s fifty day moving average price is $87.13 and its 200-day moving average price is $82.73.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.33%. Kontoor Brands’s dividend payout ratio (DPR) is presently 46.85%.

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.