Kontoor Brands (NYSE:KTB) Releases FY 2022 Earnings Guidance

Kontoor Brands (NYSE:KTB – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $4.75-$4.85 for the period, compared to the consensus estimate of $4.52. The company issued revenue guidance of $2.70B-, compared to the consensus revenue estimate of $2.70 billion.Kontoor Brands also updated its Q2 2022 guidance to $1.05-$1.15 EPS.

Kontoor Brands stock traded down $0.27 during trading hours on Monday, reaching $42.34. The company had a trading volume of 6,844 shares, compared to its average volume of 461,262. The company has a debt-to-equity ratio of 4.29, a current ratio of 2.01 and a quick ratio of 1.12. The company has a 50-day moving average price of $42.17 and a 200 day moving average price of $48.44. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.11 and a beta of 1.09. Kontoor Brands has a 12-month low of $39.01 and a 12-month high of $67.00.

Kontoor Brands (NYSE:KTB – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.17. The business had revenue of $679.70 million for the quarter, compared to analysts’ expectations of $655.65 million. Kontoor Brands had a return on equity of 138.25% and a net margin of 8.46%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. As a group, research analysts expect that Kontoor Brands will post 4.8 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Friday, June 10th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.84 annualized dividend and a dividend yield of 4.35%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.83%.

Several equities analysts have recently issued reports on the company. Barclays reduced their target price on Kontoor Brands from $63.00 to $53.00 in a research note on Friday, April 1st. Zacks Investment Research raised Kontoor Brands from a hold rating to a buy rating and set a $47.00 target price on the stock in a research note on Tuesday, May 10th.

A number of hedge funds have recently modified their holdings of KTB. Stifel Financial Corp purchased a new stake in Kontoor Brands in the fourth quarter worth $220,000. Janus Henderson Group PLC purchased a new stake in Kontoor Brands in the third quarter worth $246,000. Advisor Group Holdings Inc. grew its stake in Kontoor Brands by 7.3% in the first quarter. Advisor Group Holdings Inc. now owns 6,135 shares of the company’s stock worth $295,000 after purchasing an additional 418 shares during the period. Hsbc Holdings PLC grew its stake in Kontoor Brands by 16.3% in the first quarter. Hsbc Holdings PLC now owns 8,604 shares of the company’s stock worth $358,000 after purchasing an additional 1,209 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Kontoor Brands by 4.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,700 shares of the company’s stock worth $442,000 after acquiring an additional 439 shares in the last quarter. 99.18% of the stock is currently owned by institutional investors.

About Kontoor Brands (Get Rating)

Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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