Kenvue (NYSE:KVUE) Announces Earnings Results, Beats Estimates By $0.03 EPS

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

Kenvue Stock Down 0.2 %

Shares of KVUE stock opened at $20.49 on Friday. Kenvue has a fifty-two week low of $17.82 and a fifty-two week high of $27.80. The firm’s 50 day moving average price is $19.90 and its two-hundred day moving average price is $20.12. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, May 7th.

Analyst Ratings Changes

A number of analysts recently issued reports on KVUE shares. HSBC upped their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday. Sanford C. Bernstein began coverage on shares of Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective on the stock. Royal Bank of Canada reduced their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. William Blair initiated coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group initiated coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.