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

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

KTB stock traded down $0.17 during mid-day trading on Friday, reaching $89.36. 52,426 shares of the company’s stock were exchanged, compared to its average volume of 538,765. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock’s 50 day moving average is $87.14 and its 200 day moving average is $82.78. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.33%. Kontoor Brands’s payout ratio is 46.85%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KTB. Guggenheim boosted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday. Barclays increased their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group decreased their target price on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price target for the stock from $89.00 to $93.00 in a report on Friday, November 1st. One investment 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, Kontoor Brands has an average rating of “Moderate Buy” and an average target price of $96.33.

Kontoor Brands Company Profile

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.