Zacks: Analysts Expect Kontoor Brands (NYSE:KTB) Will Announce Quarterly Sales of $653.85 Million
Wall Street brokerages expect Kontoor Brands (NYSE:KTB) to post sales of $653.85 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Kontoor Brands’ earnings. The lowest sales estimate is $651.00 million and the highest is $656.70 million. The firm is expected to announce its next quarterly earnings results on Thursday, November 14th.
On average, analysts expect that Kontoor Brands will report full-year sales of $2.57 billion for the current year, with estimates ranging from $2.57 billion to $2.58 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.62 billion, with estimates ranging from $2.60 billion to $2.63 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Kontoor Brands.
Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.29. The company had revenue of $609.74 million for the quarter, compared to analyst estimates of $591.36 million. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share.
In other news, Director Juliana L. Chugg bought 8,400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $29.96 per share, for a total transaction of $251,664.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Carucci acquired 5,000 shares of the stock in a transaction on 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 disclosure for this purchase can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CENTRAL TRUST Co purchased a new position in Kontoor Brands during the 2nd quarter valued at about $25,000. Arbor Wealth Management LLC acquired a new position in Kontoor Brands during the second quarter worth $26,000. Meeder Asset Management Inc. acquired a new position in shares of Kontoor Brands in the second quarter worth $28,000. Blackhill Capital Inc. acquired a new position in Kontoor Brands in the second quarter valued at $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Kontoor Brands in the second quarter valued at $32,000. 85.38% of the stock is owned by hedge funds and other institutional investors.
NYSE KTB opened at $36.00 on Tuesday. The company’s 50-day moving average is $32.52. Kontoor Brands has a fifty-two week low of $25.78 and a fifty-two week 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 also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 6.22%. The ex-dividend date of this dividend is Monday, September 9th.
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