Kenvue (NYSE:KVUE) Issues Earnings Results, Beats Expectations By $0.01 EPS

Kenvue (NYSE:KVUE - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01, Briefing.com reports. The firm had revenue of $3.90 billion for the quarter, compared to analysts' expectations of $3.92 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. Kenvue updated its FY 2024 guidance to 1.100-1.200 EPS and its FY24 guidance to $1.10-1.20 EPS.

Kenvue Price Performance

KVUE stock traded up $0.71 during trading on Friday, hitting $23.68. 16,635,437 shares of the company's stock traded hands, compared to its average volume of 16,248,485. The business has a fifty day simple moving average of $22.65 and a 200 day simple moving average of $20.54. Kenvue has a 52 week low of $17.67 and a 52 week high of $23.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The stock has a market capitalization of $45.35 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 2.94 and a beta of 1.36.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue's payout ratio is 141.38%.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several analyst reports. UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Royal Bank of Canada downgraded shares of Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 target price for the company. in a report on Tuesday, September 24th. Bank of America raised their price target on Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. increased their target price on Kenvue from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average 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.