Analysts Issue Forecasts for Kenvue Inc.’s Q2 2024 Earnings (NYSE:KVUE)

Kenvue Inc. (NYSE:KVUE) – Stock analysts at William Blair boosted their Q2 2024 EPS estimates for Kenvue in a research note issued on Tuesday, May 7th. William Blair analyst J. Andersen now anticipates that the company will post earnings per share of $0.31 for the quarter, up from their previous forecast of $0.30. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Kenvue’s current full-year earnings is $1.15 per share. William Blair also issued estimates for Kenvue’s Q3 2024 earnings at $0.31 EPS, Q4 2024 earnings at $0.29 EPS, FY2024 earnings at $1.20 EPS and FY2025 earnings at $1.28 EPS.

KVUE has been the topic of several other reports. JPMorgan Chase & Co. decreased their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price on the stock. HSBC lifted their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada decreased their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $24.38.

Kenvue Price Performance

NYSE:KVUE opened at $20.54 on Thursday. The business’s 50-day moving average is $19.90 and its 200 day moving average is $20.12. Kenvue has a 12 month low of $17.82 and a 12 month high of $27.80. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The business’s revenue was down 24.9% on a year-over-year basis.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $0.20 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 3.89%.

Hedge Funds Weigh In On Kenvue

Institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC bought a new position in Kenvue in the third quarter worth approximately $5,053,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Kenvue during the third quarter valued at $1,809,000. IFM Investors Pty Ltd bought a new stake in shares of Kenvue in the third quarter valued at about $6,200,000. Park Avenue Securities LLC purchased a new stake in Kenvue in the third quarter worth about $308,000. Finally, Graypoint LLC purchased a new stake in Kenvue in the third quarter worth about $265,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.