Bank of America Corp. stock outperforms market on strong trading day

Shares of Bank of America Corp. BAC, +0.79% inched 0.79% higher to $47.34 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +0.09% rising 0.09% to 4,701.70 and the Dow Jones Industrial Average DJIA, +0.29% rising 0.29% to 36,432.22. The stock’s rise snapped a two-day losing streak. Bank of America Corp. closed $1.35 short of its 52-week high ($48.69), which the company achieved on November 3rd.

Equities Analysts Lower Earnings Estimates for Kontoor Brands, Inc. (NYSE:KTB)

Kontoor Brands, Inc. (NYSE:KTB) – Piper Sandler dropped their Q4 2021 EPS estimates for shares of Kontoor Brands in a report released on Thursday, November 4th. Piper Sandler analyst E. Murphy now forecasts that the company will earn $0.78 per share for the quarter, down from their previous forecast of $0.83. Piper Sandler also issued estimates for Kontoor Brands’ Q3 2022 earnings at $1.39 EPS, Q4 2022 earnings at $0.95 EPS, Q1 2023 earnings at $1.78 EPS, Q2 2023 earnings at $1.19 EPS and Q3 2023 earnings at $1.57 EPS. Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.25. Kontoor Brands had a net margin of 7.93% and a return on equity of 183.88%. The firm had revenue of $652.30 million during the quarter, compared to analysts’ expectations of $615.12 million. During the same period in the previous year, the company earned $1.33 earnings per share. Kontoor Brands’s quarterly revenue was up 11.9% compared to the same quarter last year.

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