Kontoor Brands (NYSE:KTB) Releases Earnings Results, Beats Expectations By $0.07 EPS

Kontoor Brands (NYSE:KTB) issued its quarterly earnings data on Tuesday. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07, Zacks reports. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the firm posted $1.28 EPS. Kontoor Brands’s quarterly revenue was up 4.4% compared to the same quarter last year.

Kontoor Brands Price Performance

KTB stock traded down $0.56 during trading hours on Thursday, hitting $67.93. 276,099 shares of the stock traded hands, compared to its average volume of 630,413. The stock has a 50-day simple moving average of $86.43 and a 200 day simple moving average of $83.15. The company has a market cap of $3.75 billion, a P/E ratio of 15.33, a P/E/G ratio of 2.12 and a beta of 1.19. Kontoor Brands has a one year low of $52.95 and a one year high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.06%. Kontoor Brands’s dividend payout ratio (DPR) is 46.85%.

Wall Street Analyst Weigh In

KTB has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and lifted their target price for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Barclays reduced their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group lowered their price target on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, Guggenheim upped their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.17.

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.