Kenvue (NYSE:KVUE) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Kenvue (NYSE:KVUE) announced its quarterly earnings results on Tuesday. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03, Briefing.com reports. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm’s quarterly revenue was down 24.9% compared to the same quarter last year. Kenvue updated its FY24 guidance to $1.10-$1.20 EPS.

Kenvue Price Performance

Shares of Kenvue stock traded down $0.01 during trading on Thursday, reaching $20.44. The company’s stock had a trading volume of 4,264,562 shares, compared to its average volume of 16,981,445. The business’s 50-day moving average price is $19.87 and its 200-day moving average price is $20.12. Kenvue has a 52 week low of $17.82 and a 52 week 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank of Canada lowered their price objective 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. William Blair began coverage on Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating for the company. JPMorgan Chase & Co. dropped their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. The Goldman Sachs Group initiated coverage on shares of Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price for the company. Finally, HSBC raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.38.

About Kenvue

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.