Kenvue (NYSE:KVUE) Issues FY24 Earnings Guidance

Kenvue (NYSE:KVUE) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.10-$1.20 for the period, compared to the consensus EPS 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 Price Performance

KVUE traded up $0.37 during trading on Wednesday, hitting $20.45. The company’s stock had a trading volume of 23,642,579 shares, compared to its average volume of 17,121,814. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Kenvue has a twelve month low of $17.82 and a twelve month high of $27.80. The business’s fifty day simple moving average is $19.85 and its 200 day simple moving average is $20.11.

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

Kenvue Dividend Announcement

The business 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. This represents a $0.80 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Tuesday, May 7th.

Analyst Ratings Changes

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