In the latest close session, Kyndryl Holdings, Inc. (KD) was down 2.43% at $11.25. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Meanwhile, the Dow lost 1.87%, and the Nasdaq, a tech-heavy index, lost 1.98%.
Prior to today's trading, shares of the company had gained 0.44% outpaced the Business Services sector's gain of 0.29% and the S&P 500's loss of 0.03%.
The upcoming earnings release of Kyndryl Holdings, Inc. will be of great interest to investors. On that day, Kyndryl Holdings, Inc. is projected to report earnings of $0.17 per share, which would represent a year-over-year decline of 54.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.69 billion, down 1.42% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.98 per share and a revenue of $14.76 billion, indicating changes of +35.62% and -2.19%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Kyndryl Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 7.38% fall in the Zacks Consensus EPS estimate. Kyndryl Holdings, Inc. is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note Kyndryl Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 5.83. This denotes a discount relative to the industry average Forward P/E of 16.5.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 35% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KD in the coming trading sessions, be sure to utilize Zacks.com.
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Kyndryl Holdings, Inc. (KD): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).