November 10, 2019 at 3:42 pm

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

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

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KTB traded up $1.00 during trading on Friday, hitting $36.01. 845,753 shares of the company’s stock traded hands, compared to its average volume of 1,142,565. The business’s 50 day moving average is $36.74. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 12.64. Kontoor Brands has a 12-month low of $25.78 and a 12-month high of $41.75.

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

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

In other news, Director Juliana L. Chugg purchased 8,400 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $29.96 per share, for a total transaction of $251,664.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Carucci purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average price of $33.15 per share, for a total transaction of $165,750.00. The disclosure for this purchase can be found here.

Further Reading: Analyzing a company’s cash flow statement

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