Kenvue (NYSE:KVUE) Updates FY24 Earnings Guidance

Kenvue (NYSE:KVUE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.10-$1.20 for the period, compared to the consensus earnings per share estimate of $1.14. The company issued revenue guidance of $15.59-$15.90 billion, compared to the consensus revenue estimate of $15.63 billion.

Kenvue Stock Up 0.3 %

Shares of NYSE KVUE traded up $0.06 during mid-day trading on Thursday, hitting $20.51. 7,898,005 shares of the stock traded hands, compared to its average volume of 17,024,246. The stock has a fifty day moving average price of $19.87 and a 200-day moving average price of $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 (NYSE:KVUE) last announced its quarterly earnings data 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 net margin of 9.87% and a return on equity of 15.62%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. As a group, research analysts forecast that Kenvue will post 1.15 EPS for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 3.90%.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent analyst reports. HSBC increased their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a hold rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on Kenvue from $25.00 to $24.00 and set an overweight rating for the company in a research note on Friday, February 9th. Royal Bank of Canada dropped their price objective on Kenvue from $25.00 to $24.00 and set an outperform rating on the stock in a research report on Friday, February 9th. Sanford C. Bernstein began coverage on Kenvue in a research report on Thursday, April 11th. They issued an underperform rating and a $18.00 target price for the company. Finally, 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 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price 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.