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

Kenvue (NYSE:KVUE) released 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. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. Kenvue’s revenue for the quarter 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 Stock Up 2.4 %

NYSE KVUE traded up $0.55 during mid-day trading on Friday, reaching $23.52. 10,407,948 shares of the company’s stock traded hands, compared to its average volume of 18,113,184. The company has a fifty day simple moving average of $22.61 and a 200-day simple moving average of $20.50. Kenvue has a 1-year low of $17.67 and a 1-year high of $23.61. The company has a market cap of $45.04 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 3.01 and a beta of 1.36. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69.

Kenvue Announces Dividend

The firm also recently declared 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. This represents a $0.82 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 141.38%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KVUE shares. Piper Sandler boosted their price target on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada downgraded 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 report on Tuesday, September 24th. Finally, Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.