Kontoor Brands (NYSE:KTB) Posts Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Kontoor Brands (NYSE:KTB - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.26, Briefing.com reports. 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 company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. Kontoor Brands updated its Q2 guidance to approx $0.85 EPS.

Kontoor Brands Stock Performance

Shares of NYSE KTB traded down $1.72 during trading on Friday, reaching $65.65. 1,008,759 shares of the company traded hands, compared to its average volume of 584,365. The stock has a market cap of $3.66 billion, a P/E ratio of 16.62, a PEG ratio of 1.79 and a beta of 1.11. The firm's fifty day simple moving average is $59.10 and its 200 day simple moving average is $57.26. The company has a current ratio of 2.70, a quick ratio of 1.38 and a debt-to-equity ratio of 1.96. Kontoor Brands has a 12-month low of $37.10 and a 12-month high of $69.69.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.05%. The ex-dividend date is Monday, June 10th. Kontoor Brands's dividend payout ratio is currently 50.63%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KTB shares. The Goldman Sachs Group upped their price target on Kontoor Brands from $68.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday. 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 research report on Friday, February 16th. Edward Jones lowered shares of Kontoor Brands from a "buy" rating to a "hold" rating in a report on Friday, January 26th. Finally, Barclays upped their target price on Kontoor Brands from $65.00 to $76.00 and gave the company an "overweight" rating in a research report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.20.

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.