Kyndryl (NYSE:KD) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Kyndryl (NYSE:KD) released its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.11, Briefing.com reports. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.76 billion. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. Kyndryl’s revenue was down 9.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.21) earnings per share.

Kyndryl Trading Up 25.2 %

Shares of NYSE:KD traded up $5.24 during midday trading on Wednesday, hitting $26.01. 5,582,408 shares of the stock were exchanged, compared to its average volume of 1,593,960. The business’s 50-day moving average price is $21.20 and its 200 day moving average price is $19.91. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -5.58, a P/E/G ratio of 5.79 and a beta of 1.57. Kyndryl has a 12 month low of $11.35 and a 12 month high of $26.22. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.94 and a current ratio of 0.94.

Analyst Upgrades and Downgrades

Separately, Susquehanna raised shares of Kyndryl from a “neutral” rating to a “positive” rating and lifted their price target for the company from $19.00 to $27.00 in a report on Monday, February 12th.

About Kyndryl

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.