Kenvue (NYSE:KVUE) Releases FY 2024 Earnings Guidance

Kenvue (NYSE:KVUE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.100-1.200 for the period, compared to the consensus estimate of 1.130. The company issued revenue guidance of $15.6 billion-$15.9 billion, compared to the consensus revenue estimate of $15.6 billion. Kenvue also updated its FY24 guidance to $1.10-1.20 EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. HSBC lifted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a hold rating in a research report on Wednesday, May 8th. Royal Bank of Canada reissued an outperform rating and set a $24.00 price target on shares of Kenvue in a research report on Wednesday. Sanford C. Bernstein started coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an underperform rating and a $18.00 price objective for the company. Citigroup reduced their target price on shares of Kenvue from $21.00 to $20.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Kenvue from $22.00 to $24.00 and gave the company an overweight rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $22.64.

Kenvue Stock Down 1.1 %

Shares of Kenvue stock traded down $0.23 on Friday, reaching $21.02. 20,618,775 shares of the company were exchanged, compared to its average volume of 19,304,982. The stock’s 50 day moving average price is $18.58 and its 200-day moving average price is $19.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue has a 1-year low of $17.67 and a 1-year high of $24.10. The company has a market cap of $40.25 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. As a group, equities analysts forecast that Kenvue will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be issued a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.90%. Kenvue’s dividend payout ratio is presently 105.13%.

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.