Kontoor Brands (NYSE:KTB) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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

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

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

In related news, Director Richard Carucci acquired 5,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was bought at an average price of $33.15 per share, for a total transaction of $165,750.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Juliana L. Chugg acquired 8,400 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $29.96 per share, with a total value of $251,664.00. The disclosure for this purchase can be found here.

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

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