William Blair Equities Analysts Cut Earnings Estimates for Kenvue Inc. (NYSE:KVUE)

Kenvue Inc. (NYSE:KVUE) – Analysts at William Blair decreased their Q2 2024 earnings per share estimates for shares of Kenvue in a research report issued on Tuesday, June 25th. William Blair analyst J. Andersen now forecasts that the company will earn $0.30 per share for the quarter, down from their prior forecast 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 announced its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.79 billion. The firm’s revenue for the quarter was down 24.9% on a year-over-year basis.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group began coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. Citigroup reissued a “neutral” rating and issued a $21.00 target price on shares of Kenvue in a research note on Tuesday, May 28th. Sanford C. Bernstein initiated coverage on Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. Finally, 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. 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.09.

Kenvue Trading Down 1.3 %

KVUE opened at $18.18 on Friday. Kenvue has a 1-year low of $17.75 and a 1-year high of $26.66. The stock has a market capitalization of $34.81 billion and a PE ratio of 23.31. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $19.19 and a two-hundred day moving average price of $19.98.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s payout ratio is 102.56%.

Institutional Investors Weigh In On Kenvue

Large investors have recently bought and sold shares of the company. Manchester Capital Management LLC boosted its position in shares of Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after purchasing an additional 530 shares in the last quarter. Planned Solutions Inc. acquired a new stake in Kenvue during the 4th quarter worth $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in Kenvue during the fourth quarter worth about $28,000. Mather Group LLC. acquired a new position in Kenvue in the first quarter valued at about $28,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Kenvue in the first quarter worth about $31,000. 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.