Kontoor Brands (NYSE:KTB – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.830-4.830 for the period, compared to the consensus earnings per share estimate of 4.770. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Kontoor Brands also updated its FY24 guidance to $4.83 from $4.80 EPS.
Kontoor Brands Trading Down 4.6 %
Shares of NYSE KTB traded down $3.98 during trading hours 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 current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.99 and a beta of 1.20. The business’s fifty day moving average price is $77.81 and its two-hundred day moving average price is $71.34. Kontoor Brands has a 52-week low of $39.90 and a 52-week high of $89.76.
Kontoor Brands (NYSE:KTB – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (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 analyst estimates of $663.45 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. Kontoor Brands’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 earnings per share. Analysts expect that Kontoor Brands will post 4.8 EPS for the current fiscal year.
Kontoor Brands Increases Dividend
Analysts Set New Price Targets
A number of research firms have weighed in on KTB. UBS Group upped their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday. Barclays upped their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the stock from $89.00 to $93.00 in a report on Friday. Wells Fargo & Company upped their price target on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Guggenheim upped their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.
Check Out Our Latest Stock Analysis on KTB
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.
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