Kenvue (NYSE:KVUE) Updates FY 2024 Earnings Guidance

Kenvue (NYSE:KVUE - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.100-1.200 for the period, compared to the consensus estimate of 1.140. The company issued revenue guidance of $15.6 billion-$15.6 billion, compared to the consensus revenue estimate of $15.7 billion. Kenvue also updated its FY24 guidance to $1.10-1.20 EPS.

Kenvue Price Performance

Shares of Kenvue stock traded up $0.47 during midday trading on Thursday, hitting $22.97. 28,242,983 shares of the company traded hands, compared to its average volume of 18,148,850. The firm's fifty day moving average price is $22.61 and its 200-day moving average price is $20.50. The stock has a market cap of $43.99 billion, a price-to-earnings ratio of 39.60, a PEG ratio of 3.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue has a 12 month low of $17.67 and a 12 month high of $23.57.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company's revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. As a group, sell-side analysts forecast that Kenvue will post 1.08 earnings per share for the current year.

Kenvue Dividend Announcement

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

Analysts Set New Price Targets

KVUE has been the subject of several recent research reports. Royal Bank of Canada cut Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 price target for the company. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Jefferies Financial Group initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They issued a "buy" rating and a $27.00 price target on the stock. Piper Sandler increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Finally, UBS Group boosted their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. 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.com, the stock presently has a consensus 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.