Kontoor Brands Reports Third Quarter 2020 Results; Reinstates a Quarterly Dividend and Provides FY'20 Outlook
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Go back to Kontoor Brands Reports Third Quarter 2020 Results; Reinstates a Quarterly Dividend and Provides FY'20 Outlook
October 29, 2020 12:47 PM EDT
Susquehanna analyst Sam Poser raised the price target on Kontoor Brands (NYSE: KTB) to $44.00 (from $30.00) while maintaining a Positive rating.
The analyst commented, "Buy KTB. The far better than expected 3Q20 results on all line items, and the reinstated quarterly dividend at $0.40 quarter vs.... More
October 29, 2020 7:23 AM EDT
Kontoor Brands Inc. (NYSE: KTB) reported Q3 EPS of $1.33, $0.75 better than the analyst estimate of $0.58. Revenue for the quarter came in at $583 million versus the consensus estimate of $547.12 million.
Q3 Reported Revenue of $583 million declined 9 percent compared with the prior yearQ3 Reported EPS of $1.05; Adjusted EPS of $1.33 increased 40 percent compared with the prior yearQ3 Reported Gross Margin increased 410 bps to 44.2 percent compared with the prior year; Adjusted Gross Margin increased 240 bps to 43.3 percentStrong cash generation supported additional discretionary debt repayments totaling $100 million in the third quarter,...
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