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Kyndryl Holdings, Inc. (KD) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, Kyndryl Holdings, Inc. (KD - Free Report) reached $24.05, with a -0.99% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.71% for the day. Elsewhere, the Dow gained 1.03%, while the tech-heavy Nasdaq added 0.6%.
Prior to today's trading, shares of the company had gained 6.12% over the past month. This has outpaced the Business Services sector's gain of 5.54% and lagged the S&P 500's gain of 6.41% in that time.
The investment community will be paying close attention to the earnings performance of Kyndryl Holdings, Inc. in its upcoming release. The company is slated to reveal its earnings on November 6, 2024. The company is expected to report EPS of $0.09, up 280% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $3.7 billion, indicating a 9.14% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.29 per share and revenue of $15.28 billion. These totals would mark changes of +1272.73% and -4.84%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Kyndryl Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.4% higher within the past month. Right now, Kyndryl Holdings, Inc. possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Kyndryl Holdings, Inc. is presently being traded at a Forward P/E ratio of 18.87. For comparison, its industry has an average Forward P/E of 24.25, which means Kyndryl Holdings, Inc. is trading at a discount to the group.
We can additionally observe that KD currently boasts a PEG ratio of 3.77. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services industry had an average PEG ratio of 1.63 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Kyndryl Holdings, Inc. (KD) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, Kyndryl Holdings, Inc. (KD - Free Report) reached $24.05, with a -0.99% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.71% for the day. Elsewhere, the Dow gained 1.03%, while the tech-heavy Nasdaq added 0.6%.
Prior to today's trading, shares of the company had gained 6.12% over the past month. This has outpaced the Business Services sector's gain of 5.54% and lagged the S&P 500's gain of 6.41% in that time.
The investment community will be paying close attention to the earnings performance of Kyndryl Holdings, Inc. in its upcoming release. The company is slated to reveal its earnings on November 6, 2024. The company is expected to report EPS of $0.09, up 280% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $3.7 billion, indicating a 9.14% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.29 per share and revenue of $15.28 billion. These totals would mark changes of +1272.73% and -4.84%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Kyndryl Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.4% higher within the past month. Right now, Kyndryl Holdings, Inc. possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Kyndryl Holdings, Inc. is presently being traded at a Forward P/E ratio of 18.87. For comparison, its industry has an average Forward P/E of 24.25, which means Kyndryl Holdings, Inc. is trading at a discount to the group.
We can additionally observe that KD currently boasts a PEG ratio of 3.77. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services industry had an average PEG ratio of 1.63 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.