Q2 2024 EPS Estimates for Kenvue Inc. Cut by William Blair (NYSE:KVUE)

Kenvue Inc. (NYSE:KVUE) – Investment analysts at William Blair cut their Q2 2024 earnings per share estimates for Kenvue in a research note issued on Tuesday, June 25th. William Blair analyst J. Andersen now anticipates that the company will post earnings per share of $0.30 for the quarter, down from their previous estimate of $0.31. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Kenvue’s current full-year earnings is $1.17 per share. William Blair also issued estimates for Kenvue’s Q3 2024 earnings at $0.32 EPS.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue’s revenue was down 24.9% on a year-over-year basis.

A number of other brokerages have also issued reports on KVUE. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target on the stock. HSBC lifted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, Citigroup reiterated a “neutral” rating and set a $21.00 price objective on shares of Kenvue in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $23.09.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $18.18 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The business’s 50 day moving average price is $19.19 and its 200-day moving average price is $19.98. The firm has a market capitalization of $34.81 billion and a PE ratio of 23.31. Kenvue has a 1 year low of $17.75 and a 1 year high of $26.66.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.40%. Kenvue’s dividend payout ratio is currently 102.56%.

Institutional Investors Weigh In On Kenvue

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC raised its holdings in shares of Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares during the period. Planned Solutions Inc. purchased a new stake in shares of Kenvue in the 4th quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Kenvue during the 4th quarter worth $28,000. Mather Group LLC. acquired a new position in Kenvue during the 1st quarter worth $28,000. Finally, Oakworth Capital Inc. acquired a new position in Kenvue during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.