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KeyCorp (KEY) Gains But Lags Market: What You Should Know
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KeyCorp (KEY - Free Report) closed the most recent trading day at $17.74, moving +1.14% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.46%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the company had lost 8.74% over the past month. This has lagged the Finance sector's loss of 6.38% and the S&P 500's loss of 6.94% in that time.
Investors will be hoping for strength from KeyCorp as it approaches its next earnings release, which is expected to be July 21, 2022. On that day, KeyCorp is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 25%. Meanwhile, our latest consensus estimate is calling for revenue of $1.82 billion, up 2.72% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.22 per share and revenue of $7.33 billion, which would represent changes of -15.27% and +0.85%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KeyCorp. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.73% lower. KeyCorp currently has a Zacks Rank of #3 (Hold).
Investors should also note KeyCorp's current valuation metrics, including its Forward P/E ratio of 7.9. Its industry sports an average Forward P/E of 9.47, so we one might conclude that KeyCorp is trading at a discount comparatively.
It is also worth noting that KEY currently has a PEG ratio of 0.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.34 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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KeyCorp (KEY) Gains But Lags Market: What You Should Know
KeyCorp (KEY - Free Report) closed the most recent trading day at $17.74, moving +1.14% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.46%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the company had lost 8.74% over the past month. This has lagged the Finance sector's loss of 6.38% and the S&P 500's loss of 6.94% in that time.
Investors will be hoping for strength from KeyCorp as it approaches its next earnings release, which is expected to be July 21, 2022. On that day, KeyCorp is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 25%. Meanwhile, our latest consensus estimate is calling for revenue of $1.82 billion, up 2.72% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.22 per share and revenue of $7.33 billion, which would represent changes of -15.27% and +0.85%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KeyCorp. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.73% lower. KeyCorp currently has a Zacks Rank of #3 (Hold).
Investors should also note KeyCorp's current valuation metrics, including its Forward P/E ratio of 7.9. Its industry sports an average Forward P/E of 9.47, so we one might conclude that KeyCorp is trading at a discount comparatively.
It is also worth noting that KEY currently has a PEG ratio of 0.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.34 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.