Stock Track | Kennedy-Wilson Shares Plunge on Disappointing Quarterly Results

Stock Track11-07

Shares of Kennedy-Wilson Holdings Inc (KW) plummeted by 6.37% on Wednesday morning, following the release of the company's disappointing quarterly earnings report for the period ended January 1.

According to the earnings summary, Kennedy-Wilson reported an adjusted net loss of $0.56 per share for the quarter, wider than the analyst consensus estimate of a $0.53 loss per share. The company's revenue declined by 9.7% year-over-year to $127.5 million, although it surpassed Wall Street's expectations of $97.71 million.

The weak financial performance and the widening loss appear to have weighed heavily on investor sentiment, leading to the sharp sell-off in Kennedy-Wilson's stock. Analysts have also turned bearish on the company, with the current average recommendation standing at a "hold" rating, including one "sell" rating.

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