Why Is Kimberly-Clark (KMB) Stock Rocketing Higher Today
Stock Story
Published Apr 23, 2024 12:20PM ET
Updated Apr 23, 2024 12:30PM ET
Why Is Kimberly-Clark (KMB) Stock Rocketing Higher Today
What Happened: Shares of household products company Kimberly-Clark (NYSE:KMB) jumped 5.7% in the pre-market session after the company reported first-quarter results that blew past analysts' organic revenue growth expectations. Its gross margin also outperformed Wall Street's estimates. Looking forward, full-year guidance was raised for major line items such as organic sales, adjusted operating profit, and adjusted EPS. Overall, it was a strong quarter for the company.
Is now the time to buy Kimberly-Clark? Find out by reading the original article on StockStory, it's free.
What is the market telling us: Kimberly-Clark's shares are not very volatile than the market average and over the last year have had only one move greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Kimberly-Clark is up 11.5% since the beginning of the year, and at $136.27 per share it is trading close to its 52-week high of $146.38 from April 2023. Investors who bought $1,000 worth of Kimberly-Clark's shares 5 years ago would now be looking at an investment worth $1,086.
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Written By: Stock Story
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