Kyndryl (NYSE:KD) Issues Earnings Results

Kyndryl (NYSE:KD) announced its quarterly earnings results on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.11, Briefing.com reports. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Kyndryl had a negative net margin of 6.27% and a negative return on equity of 7.39%. The company’s revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) EPS.

Kyndryl Trading Down 2.8 %

Shares of NYSE KD traded down $0.75 during midday trading on Thursday, reaching $25.80. The stock had a trading volume of 504,880 shares, compared to its average volume of 1,607,026. The company’s 50 day moving average price is $21.29 and its 200 day moving average price is $19.95. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.94 and a current ratio of 0.94. Kyndryl has a twelve month low of $11.35 and a twelve month high of $26.70. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -5.84, a price-to-earnings-growth ratio of 5.79 and a beta of 1.57.

Analysts Set New Price Targets

Separately, Susquehanna increased their price objective on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a report on Thursday.

Kyndryl Company Profile

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.