Kontoor Brands (NYSE:KTB – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of approx $0.85 for the period, compared to the consensus estimate of $1.04.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on KTB shares. Edward Jones cut shares of Kontoor Brands from a buy rating to a hold rating in a research report on Friday, January 26th. The Goldman Sachs Group upped their price target on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a buy rating in a report on Friday. UBS Group raised their price objective on Kontoor Brands from $83.00 to $85.00 and gave the company a buy rating in a report on Friday, February 16th. Finally, Barclays lifted their price target on Kontoor Brands from $65.00 to $76.00 and gave the company an overweight rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $75.20.
Check Out Our Latest Stock Report on KTB
Kontoor Brands Stock Down 2.6 %
Kontoor Brands (NYSE:KTB – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.26. The firm had revenue of $631.20 million for the quarter, compared to the consensus estimate of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. Research analysts anticipate that Kontoor Brands will post 4.7 earnings per share for the current fiscal year.
Kontoor Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Monday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.
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.
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