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

Kenvue (NYSE:KVUE) released its quarterly 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. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business earned $0.31 EPS. The business’s revenue was down .4% on a year-over-year basis. 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 traded up $0.71 during trading on Friday, reaching $23.68. The stock had a trading volume of 16,625,477 shares, compared to its average volume of 18,141,836. The stock has a 50 day moving average of $22.61 and a two-hundred day moving average of $20.50. The firm has a market capitalization 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 company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given 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 3.46%. Kenvue’s dividend payout ratio is presently 141.38%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America lifted their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler increased 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. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Kenvue currently 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.