Kenvue Inc. (NYSE:KVUE) to Post Q2 2024 Earnings of $0.31 Per Share, William Blair Forecasts

Kenvue Inc. (NYSE:KVUE) – William Blair lifted their Q2 2024 EPS estimates for shares of Kenvue in a research note issued on Tuesday, May 7th. William Blair analyst J. Andersen now forecasts that the company will post earnings of $0.31 per share for the quarter, up from their prior estimate of $0.30. William Blair 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.

Several other brokerages have also issued reports on KVUE. HSBC boosted 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 assumed coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Royal Bank of Canada reduced their price target on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. Finally, Sanford C. Bernstein assumed coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $24.38.

Kenvue Trading Up 1.8 %

NYSE KVUE opened at $20.45 on Thursday. The company has a 50-day moving average price of $19.87 and a 200-day moving average price of $20.12. Kenvue has a 52 week low of $17.82 and a 52 week 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 (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company 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%. The business’s revenue for the quarter 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. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Tuesday, May 7th.

Hedge Funds Weigh In On Kenvue

Several hedge funds have recently modified their holdings of the stock. Beaumont Financial Advisors LLC lifted its stake in Kenvue by 3.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock worth $377,000 after purchasing an additional 509 shares in the last quarter. Pinnacle Bancorp Inc. increased its holdings in shares of Kenvue by 51.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after purchasing an additional 526 shares during the last quarter. Manchester Capital Management LLC lifted its position in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after buying an additional 530 shares in the last quarter. Tradition Wealth Management LLC boosted its stake in Kenvue by 2.8% during the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after buying an additional 575 shares during the last quarter. Finally, Dfpg Investments LLC boosted its stake in Kenvue by 2.3% during the fourth quarter. Dfpg Investments LLC now owns 26,659 shares of the company’s stock valued at $567,000 after buying an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.