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

Kontoor Brands (NYSE:KTB) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.310-1.310 for the period, compared to the consensus EPS estimate of 1.400. The company issued revenue guidance of $695.0 million-$695.0 million, compared to the consensus revenue estimate of $713.4 million. Kontoor Brands also updated its FY 2024 guidance to 4.830-4.830 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price target for the company from $89.00 to $93.00 in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group increased their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Guggenheim increased their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Stock Performance

NYSE:KTB traded down $3.98 during mid-day trading on Friday, reaching $81.65. The stock had a trading volume of 1,159,909 shares, compared to its average volume of 485,484. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.99 and a beta of 1.20. Kontoor Brands has a twelve month low of $39.90 and a twelve month high of $89.76. The business has a 50 day simple moving average of $77.81 and a 200 day simple moving average of $71.34.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. The firm had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 earnings per share. On average, analysts expect that Kontoor Brands will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.55%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is presently 46.85%.

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.