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Why Kyndryl Holdings, Inc. (KD) Outpaced the Stock Market Today
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Kyndryl Holdings, Inc. (KD - Free Report) closed the most recent trading day at $27.63, moving +1.28% from the previous trading session. This change outpaced the S&P 500's 1.08% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Heading into today, shares of the company had gained 6.9% over the past month, outpacing the Business Services sector's loss of 3.28% and the S&P 500's gain of 0.43% in that time.
The investment community will be closely monitoring the performance of Kyndryl Holdings, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.78 billion, down 9.86% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.38 per share and a revenue of $15.38 billion, signifying shifts of +1354.55% and -4.21%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Kyndryl Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 11.24% rise in the Zacks Consensus EPS estimate. Right now, Kyndryl Holdings, Inc. possesses a Zacks Rank of #2 (Buy).
Digging into valuation, Kyndryl Holdings, Inc. currently has a Forward P/E ratio of 19.8. This signifies a discount in comparison to the average Forward P/E of 23.07 for its industry.
Investors should also note that KD has a PEG ratio of 3.96 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.41.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why Kyndryl Holdings, Inc. (KD) Outpaced the Stock Market Today
Kyndryl Holdings, Inc. (KD - Free Report) closed the most recent trading day at $27.63, moving +1.28% from the previous trading session. This change outpaced the S&P 500's 1.08% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Heading into today, shares of the company had gained 6.9% over the past month, outpacing the Business Services sector's loss of 3.28% and the S&P 500's gain of 0.43% in that time.
The investment community will be closely monitoring the performance of Kyndryl Holdings, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.78 billion, down 9.86% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.38 per share and a revenue of $15.38 billion, signifying shifts of +1354.55% and -4.21%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Kyndryl Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 11.24% rise in the Zacks Consensus EPS estimate. Right now, Kyndryl Holdings, Inc. possesses a Zacks Rank of #2 (Buy).
Digging into valuation, Kyndryl Holdings, Inc. currently has a Forward P/E ratio of 19.8. This signifies a discount in comparison to the average Forward P/E of 23.07 for its industry.
Investors should also note that KD has a PEG ratio of 3.96 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.41.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.