Kenvue (NYSE:KVUE) Releases FY24 Earnings Guidance

Kenvue (NYSE:KVUE - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.10-$1.20 for the period, compared to the consensus 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 5.2 %

Kenvue stock traded up $1.00 during mid-day trading on Tuesday, hitting $20.08. 30,039,559 shares of the company's stock were exchanged, compared to its average volume of 17,047,490. Kenvue has a fifty-two week low of $17.82 and a fifty-two week high of $27.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. The company's 50 day simple moving average is $19.85 and its 200-day simple moving average is $20.11.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.78 billion. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts predict that Kenvue will post 1.15 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, May 7th.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KVUE. JPMorgan Chase & Co. reduced their target price on shares of Kenvue from $25.00 to $24.00 and set an overweight rating for the company in a research note on Friday, February 9th. 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. William Blair initiated coverage on Kenvue in a research report on Wednesday, April 3rd. They set a market perform rating for the company. The Goldman Sachs Group began coverage on shares of Kenvue in a report on Friday, March 1st. They issued a neutral rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada reduced their target price on shares of Kenvue from $25.00 to $24.00 and set an outperform rating for the company in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $24.85.

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.