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.
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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