Q2 2024 Earnings Estimate for Kenvue Inc. (NYSE:KVUE) Issued By William Blair

Kenvue Inc. (NYSE:KVUE) – Analysts at William Blair raised their Q2 2024 EPS estimates for Kenvue in a note issued to investors on Tuesday, May 7th. William Blair analyst J. Andersen now anticipates that the company will post earnings of $0.31 per share for the quarter, up from their previous estimate 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.

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

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

Kenvue Stock Up 1.8 %

KVUE opened at $20.45 on Thursday. The firm has a 50 day moving average of $19.87 and a two-hundred day moving average of $20.12. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue has a 12-month low of $17.82 and a 12-month high of $27.80.

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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Tuesday, May 7th.

Hedge Funds Weigh In On Kenvue

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KVUE. Vanguard Group Inc. purchased a new position in Kenvue in the 3rd quarter valued at about $2,944,816,000. FMR LLC boosted its stake in shares of Kenvue by 572.1% in the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after acquiring an additional 75,913,107 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Kenvue by 576.1% in the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after acquiring an additional 61,084,123 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Kenvue by 227.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after purchasing an additional 42,449,470 shares in the last quarter. Finally, Morgan Stanley raised its stake in Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after purchasing an additional 30,413,040 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.