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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KVUE shares. Royal Bank of Canada restated an outperform rating and issued a $24.00 target price on shares of Kenvue in a research note on Wednesday. Sanford C. Bernstein started coverage on Kenvue in a research note on Thursday, April 11th. They set an underperform rating and a $18.00 price objective on the stock. Citigroup decreased their target price on Kenvue from $21.00 to $20.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. HSBC upped their price target on Kenvue from $20.00 to $21.00 and gave the company a hold rating in a research report on Wednesday, May 8th. Finally, UBS Group lifted their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a neutral rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Kenvue has an average rating of Hold and a consensus target price of $22.64.

Kenvue Stock Performance

KVUE stock traded down $0.23 during mid-day trading on Friday, reaching $21.02. The company had a trading volume of 20,618,775 shares, compared to its average volume of 19,304,982. Kenvue has a one year low of $17.67 and a one year high of $24.10. The stock has a market capitalization of $40.25 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.07 and a beta of 1.38. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $18.58 and its two-hundred day simple moving average is $19.43.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Research analysts anticipate that Kenvue will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is 105.13%.

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.