Kontoor Brands, Inc. (NYSE:KTB) Expected to Post Earnings of $1.04 Per Share

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Wall Street analysts expect Kontoor Brands, Inc. (NYSE:KTB) to announce $1.04 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kontoor Brands’ earnings. The lowest EPS estimate is $0.85 and the highest is $1.22. Kontoor Brands reported earnings of $0.27 per share in the same quarter last year, which indicates a positive year over year growth rate of 285.2%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, May 6th.

On average, analysts expect that Kontoor Brands will report full-year earnings of $3.71 per share for the current year, with EPS estimates ranging from $3.64 to $3.78. For the next fiscal year, analysts forecast that the business will post earnings of $4.13 per share, with EPS estimates ranging from $3.85 to $4.40. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Kontoor Brands.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Monday, March 1st. The company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.27. The business had revenue of $660.90 million for the quarter, compared to analyst estimates of $639.34 million. Kontoor Brands had a net margin of 2.56% and a return on equity of 1,685.31%. Kontoor Brands’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Kontoor Brands from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Wednesday, March 3rd. Piper Sandler increased their price objective on Kontoor Brands from $59.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, April 12th. Finally, UBS Group upgraded shares of Kontoor Brands from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.11.

In related news, CAO Susan Denise Sumner sold 20,876 shares of Kontoor Brands stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $54.85, for a total value of $1,145,048.60. Following the sale, the chief accounting officer now directly owns 19,879 shares in the company, valued at approximately $1,090,363.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of KTB. Eudaimonia Partners LLC acquired a new stake in shares of Kontoor Brands during the third quarter worth $95,000. Jackson Grant Investment Advisers Inc. bought a new position in Kontoor Brands in the 1st quarter worth approximately $40,000. Steward Partners Investment Advisory LLC increased its position in Kontoor Brands by 30.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,297 shares of the company’s stock valued at $53,000 after acquiring an additional 303 shares during the period. Tompkins Financial Corp bought a new stake in Kontoor Brands during the 4th quarter valued at $25,000. Finally, Veriti Management LLC acquired a new stake in Kontoor Brands in the fourth quarter worth about $75,000. Institutional investors own 87.46% of the company’s stock.

Shares of KTB traded down $0.18 during trading hours on Tuesday, reaching $64.30. 636,596 shares of the company’s stock traded hands, compared to its average volume of 470,543. The company has a current ratio of 2.21, a quick ratio of 1.27 and a debt-to-equity ratio of 39.25. The firm’s 50 day simple moving average is $56.21 and its 200-day simple moving average is $44.79. The stock has a market cap of $3.69 billion, a PE ratio of 70.09, a price-to-earnings-growth ratio of 2.20 and a beta of 1.10. Kontoor Brands has a 12 month low of $13.53 and a 12 month high of $67.74.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Investors of record on Tuesday, June 8th will be issued a $0.40 dividend. The ex-dividend date is Monday, June 7th. This represents a $1.60 annualized dividend and a yield of 2.49%. Kontoor Brands’s dividend payout ratio (DPR) is presently 41.67%.

Kontoor Brands Company Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes apparel under the Wrangler and Lee brands in the United States and internationally. The company sells its products primarily through mass and mid-tier retailers, specialty stores, department stores, and retailer-owned and third-party e-commerce sites, as well as through direct-to-consumer channels, including full-price and outlet stores, and its websites.

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

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