Kenvue (NYSE:KVUE) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Kenvue (NYSE:KVUE) announced its earnings results 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 business had revenue of $3.90 billion for 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%. Kenvue’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. 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

NYSE:KVUE traded up $0.71 during trading hours on Friday, hitting $23.68. 16,625,477 shares of the stock traded hands, compared to its average volume of 18,141,836. The company has a market cap of $45.35 billion, a price-to-earnings ratio of 39.60, a price-to-earnings-growth ratio of 3.01 and a beta of 1.36. Kenvue has a 1 year low of $17.67 and a 1 year high of $23.72. The stock has a 50 day moving average price of $22.61 and a 200 day moving average price of $20.50. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid 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 of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 141.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KVUE shares. Bank of America raised their price target on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a report on Tuesday, September 24th. Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Kenvue presently has an average 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.