Kyndryl Falls Despite Broad Market Gains Ahead of Earnings
The shares underperformed rising indexes, while estimates point to lower quarterly sales and earnings than a year earlier.
Kyndryl Holdings shares fell 4.62% to $11.56 in the latest trading session, while major U.S. indexes rose. The S&P 500 gained 0.73%, the Dow added 0.49% and the Nasdaq advanced 1.19%.
The stock has lost 9.15% over the past month. That compares with a 4.68% decline for the Business Services sector and a 0.55% gain for the S&P 500 over the same period.
Investors are looking ahead to Kyndryl’s next earnings report. The Zacks Consensus Estimate calls for earnings of $0.37 per share, down 2.63% from the same quarter a year earlier. It projects revenue of $3.6 billion, a 3.15% decrease.
For the full year, analysts expect earnings of $1.85 per share and revenue of $14.76 billion, according to Zacks Consensus Estimates. Those figures would represent a 26.71% increase in earnings and a 2.23% decline in revenue from last year.
Zacks said its consensus estimate for earnings per share has not changed over the past month. The publisher also put Kyndryl’s forward price-to-earnings ratio at 6.56, compared with an industry average of 15.91.
This article was produced with the help of AI technology. Source: Yahoo Finance