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

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

Kenvue Stock Performance

Kenvue stock opened at $20.49 on Friday. The stock has a fifty day moving average of $19.90 and a 200 day moving average of $20.12. Kenvue has a one year low of $17.82 and a one year 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 Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on KVUE. HSBC increased their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday. Royal Bank of Canada dropped their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. The Goldman Sachs Group started coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Finally, William Blair started coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.38.

Kenvue Company Profile

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.