Kontoor Brands (NYSE:KTB – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of approx $0.85 for the period, compared to the consensus earnings per share estimate of $1.04.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. 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 research report on Friday. Barclays upped their price target on shares of Kontoor Brands from $65.00 to $76.00 and gave the stock an overweight rating in a research report on Friday. Edward Jones downgraded shares of Kontoor Brands from a buy rating to a hold rating in a report on Friday, January 26th. Finally, UBS Group increased their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a buy rating in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $75.20.
Check Out Our Latest Stock Analysis on KTB
Kontoor Brands Trading Down 2.6 %
Kontoor Brands (NYSE:KTB – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.90 by $0.26. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The company had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. During the same quarter last year, the company posted $1.16 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts forecast that Kontoor Brands will post 4.7 EPS for the current year.
Kontoor Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend 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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