Kenvue (NYSE:KVUE) Updates FY 2024 Earnings Guidance

Kenvue (NYSE:KVUE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.100-1.200 for the period, compared to the consensus earnings per share estimate of 1.140. The company issued revenue guidance of $15.6 billion-$15.9 billion, compared to the consensus revenue estimate of $15.6 billion.

Kenvue Trading Up 1.9 %

KVUE stock traded up $0.38 during mid-day trading on Wednesday, reaching $20.46. 2,671,393 shares of the company traded hands, compared to its average volume of 16,866,117. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue has a fifty-two week low of $17.82 and a fifty-two week high of $27.80. The firm’s 50 day moving average price is $19.85 and its 200 day moving average price is $20.11.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. The business’s revenue was down 24.9% compared to the same quarter last year. On average, analysts predict that Kenvue will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.91%.

Analyst Ratings Changes

Several research analysts recently issued reports on KVUE shares. Sanford C. Bernstein started coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an underperform rating and a $18.00 target price for the company. The Goldman Sachs Group started coverage on shares of Kenvue in a research report on Friday, March 1st. They issued a neutral rating and a $20.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Kenvue from $25.00 to $24.00 and set an overweight rating for the company in a research report on Friday, February 9th. Royal Bank of Canada cut their price target on shares of Kenvue from $25.00 to $24.00 and set an outperform rating for the company in a research report on Friday, February 9th. Finally, William Blair started coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a market perform rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $24.85.

Kenvue Company Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.