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.

Analyst Ratings Changes

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

Kenvue Stock Performance

Shares of KVUE traded up $0.38 during mid-day trading on Wednesday, reaching $20.46. 2,671,393 shares of the stock traded hands, compared to its average volume of 16,866,117. The stock has a fifty day simple moving average of $19.85 and a 200 day simple moving average of $20.11. Kenvue has a 12-month low of $17.82 and a 12-month high of $27.80. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

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

Kenvue Announces Dividend

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

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.