Kenvue (NYSE:KVUE) Posts Quarterly Earnings Results

Kenvue (NYSE:KVUE) issued its quarterly earnings results on Thursday. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01, Briefing.com reports. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior 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

Kenvue stock traded up $0.71 on Friday, reaching $23.68. The company’s stock had a trading volume of 16,625,477 shares, compared to its average volume of 18,141,836. The business’s fifty day moving average price is $22.61 and its 200 day moving average price is $20.50. The company has a market cap of $45.35 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 twelve month low of $17.67 and a twelve month high of $23.72.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, November 13th. Kenvue’s payout ratio is 141.38%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective 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. Bank of America boosted their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler boosted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average 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.