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%.
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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