Kenvue (NYSE:KVUE) Issues FY 2024 Earnings Guidance

Kenvue (NYSE:KVUE) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.100-1.200 for the period, compared to the consensus EPS 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.

Kenvue Stock Down 1.1 %

NYSE:KVUE traded down $0.23 on Friday, hitting $21.02. 20,618,775 shares of the company’s stock were exchanged, compared to its average volume of 19,304,982. The firm has a 50-day moving average price of $18.58 and a 200-day moving average price of $19.43. Kenvue has a 52 week low of $17.67 and a 52 week high of $24.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. 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 earnings results 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 for the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. Kenvue’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. As a group, analysts expect that Kenvue will post 1.13 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed 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 represents a $0.82 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is presently 105.13%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. HSBC upped their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a hold rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a buy rating in a research note on Wednesday. Citigroup reduced their price target on Kenvue from $21.00 to $20.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada restated an outperform rating and issued a $24.00 price objective on shares of Kenvue in a research note on Wednesday. Finally, Sanford C. Bernstein initiated coverage on Kenvue in a research note on Thursday, April 11th. They set an underperform rating and a $18.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $22.64.

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.