Kontoor Brands (NYSE:KTB) Updates Q2 Earnings Guidance

Kontoor Brands (NYSE:KTB - Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of approx $0.85 for the period, compared to the consensus EPS estimate of $1.04.

Kontoor Brands Stock Up 8.4 %

Shares of KTB traded up $5.23 during trading hours on Thursday, hitting $67.37. The stock had a trading volume of 2,144,172 shares, compared to its average volume of 576,648. Kontoor Brands has a 1-year low of $37.10 and a 1-year high of $69.69. The firm has a market capitalization of $3.76 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The firm has a 50 day simple moving average of $59.06 and a 200-day simple moving average of $57.03. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.66 and a quick ratio of 1.38.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. The firm had revenue of $669.80 million during the quarter, compared to analyst estimates of $720.70 million. Sell-side analysts predict that Kontoor Brands will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands's dividend payout ratio is currently 49.26%.

Analyst Ratings Changes

Several equities analysts recently weighed in on KTB shares. The Goldman Sachs Group raised their price target on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a buy rating in a research report on Thursday, February 29th. Edward Jones lowered Kontoor Brands from a buy rating to a hold rating in a report on Friday, January 26th. UBS Group upped their price target on Kontoor Brands from $83.00 to $85.00 and gave the stock a buy rating in a report on Friday, February 16th. Finally, Barclays dropped their price objective on Kontoor Brands from $75.00 to $65.00 and set an overweight rating on the stock in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $70.40.

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.