Why HP Shares Are Surging Premarket Thursday
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 30 2024
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Source: Benzinga
- HP Inc. Q2 FY24 Results: HP Inc. reported second-quarter FY24 results with net revenue slightly down at $12.8 billion, beating expectations.
- Financial Performance: Adjusted operating margin increased to 8.8%, Personal Systems net revenue rose by 3% while Printing net revenue fell by 8% year-over-year.
- Earnings and Cash Flow: Adjusted EPS grew by 4% to $0.82, operating cash flow was $0.6 billion (-9% Y/Y), and free cash flow was $0.5 billion (-11% Y/Y).
- Outlook: HPQ expects adjusted EPS of $0.78-$0.92 for the third quarter and projects adjusted EPS of $3.30-$3.60 for FY24.
- Market Response: HPQ shares were up by 5.24% premarket at $34.51 following the earnings report.
Analyst Views on KNGZ
Wall Street analysts forecast KNGZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for KNGZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 37.350
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Current: 37.350
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
