Kenvue (NYSE:KVUE) Releases FY24 Earnings Guidance

Kenvue (NYSE:KVUE - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.10-1.20 for the period, compared to the consensus EPS estimate of $1.14. The company issued revenue guidance of ~$15.597 billion, compared to the consensus revenue estimate of $15.67 billion. Kenvue also updated its FY 2024 guidance to 1.100-1.200 EPS.

Kenvue Trading Up 2.1 %

KVUE stock traded up $0.47 during trading on Thursday, reaching $22.97. 28,743,004 shares of the stock were exchanged, compared to its average volume of 18,148,850. Kenvue has a 1 year low of $17.67 and a 1 year high of $23.57. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $43.99 billion, a price-to-earnings ratio of 38.79, a P/E/G ratio of 3.01 and a beta of 1.36. The business has a 50 day moving average price of $22.59 and a 200-day moving average price of $20.49.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. Kenvue's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. On average, research analysts predict that Kenvue will post 1.08 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.57%. Kenvue's payout ratio is 141.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Bank of America increased their target price on Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Citigroup cut their price target on Kenvue from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada cut shares of Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 target price for the company. in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group assumed coverage on Kenvue in a research report on Tuesday, September 24th. They set a "buy" rating and a $27.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $22.64.

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.