Kontoor Brands (NYSE:KTB) Announces Earnings Results, Beats Estimates By $0.08 EPS

Kontoor Brands (NYSE:KTB) released its quarterly earnings results on Thursday. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08, Briefing.com reports. The company had revenue of $638.00 million during the quarter, compared to the consensus estimate of $646.22 million. During the same period in the previous year, the company earned $1.25 earnings per share. Kontoor Brands’s quarterly revenue was down 9.4% on a year-over-year basis.

KTB traded up $1.00 during midday trading on Friday, reaching $36.01. The company’s stock had a trading volume of 845,753 shares, compared to its average volume of 1,142,565. The company has a debt-to-equity ratio of 12.64, a quick ratio of 1.07 and a current ratio of 2.49. Kontoor Brands has a 1 year low of $25.78 and a 1 year high of $41.75. The company’s 50-day simple moving average is $36.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Tuesday, December 10th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date is Monday, December 9th.

In other Kontoor Brands news, Director Richard Carucci acquired 5,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price of $33.15 per share, for a total transaction of $165,750.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Juliana L. Chugg acquired 8,400 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $29.96 per share, for a total transaction of $251,664.00. The disclosure for this purchase can be found here.

A number of research firms recently issued reports on KTB. Guggenheim reissued a “buy” rating on shares of Kontoor Brands in a research note on Thursday, August 22nd. ValuEngine downgraded shares of Kontoor Brands from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Zacks Investment Research cut shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Bank of America upped their price objective on shares of Kontoor Brands from $24.00 to $28.00 and gave the stock an “underperform” rating in a report on Friday, August 9th. Finally, Macquarie started coverage on shares of Kontoor Brands in a report on Monday, October 21st. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $31.36.

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