Kenvue (NYSE:KVUE) Updates FY24 Earnings Guidance

Kenvue (NYSE:KVUE) issued an update on its FY24 earnings guidance on Tuesday morning. 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 Trading Up 1.8 %

Shares of KVUE traded up $0.37 during midday 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. Kenvue has a one year low of $17.82 and a one year high of $27.80. The company’s fifty day simple moving average is $19.85 and its two-hundred day simple moving average is $20.11. 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 issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. The company’s revenue was down 24.9% on a year-over-year basis. Equities analysts predict that Kenvue will post 1.15 EPS for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given 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 3.91%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KVUE. Sanford C. Bernstein began coverage on Kenvue in a research report on Thursday, April 11th. They set an underperform rating and a $18.00 price objective on the stock. The Goldman Sachs Group began coverage on Kenvue in a research report on Friday, March 1st. They set a neutral rating and a $20.00 price objective on the stock. HSBC boosted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a hold rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Kenvue from $25.00 to $24.00 and set an overweight rating on the stock in a research report on Friday, February 9th. Finally, William Blair began coverage on Kenvue in a report on Wednesday, April 3rd. They set a market perform rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus 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.