Kenvue (NYSE:KVUE) Releases Quarterly Earnings Results

Kenvue (NYSE:KVUE) announced its quarterly earnings data on Tuesday. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03, Briefing.com reports. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue’s revenue was down 24.9% on a year-over-year basis. Kenvue updated its FY24 guidance to $1.10-$1.20 EPS.

Kenvue Trading Up 1.5 %

Shares of Kenvue stock traded up $0.31 during trading on Wednesday, reaching $20.39. The company’s stock had a trading volume of 16,737,475 shares, compared to its average volume of 17,037,621. The business has a 50 day moving average price of $19.85 and a 200-day moving average price of $20.11. Kenvue has a 12-month low of $17.82 and a 12-month high of $27.80. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Tuesday, May 7th.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KVUE shares. Royal Bank of Canada dropped their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. William Blair assumed coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating for the company. HSBC increased their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group started coverage on shares of Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, Sanford C. Bernstein assumed coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and an average price target of $24.38.

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.