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KeyCorp (KEY) Stock Sinks As Market Gains: What You Should Know
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KeyCorp (KEY - Free Report) closed the most recent trading day at $11.21, moving -0.36% from the previous trading session. This change lagged the S&P 500's 0.67% gain on the day. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Heading into today, shares of the company had lost 2.68% over the past month, outpacing the Finance sector's loss of 3.09% and lagging the S&P 500's loss of 0.73% in that time.
Wall Street will be looking for positivity from KeyCorp as it approaches its next earnings report date. This is expected to be October 19, 2023. In that report, analysts expect KeyCorp to post earnings of $0.28 per share. This would mark a year-over-year decline of 49.09%. Meanwhile, our latest consensus estimate is calling for revenue of $1.55 billion, down 17.35% from the prior-year quarter.
KEY's full-year Zacks Consensus Estimates are calling for earnings of $1.14 per share and revenue of $6.42 billion. These results would represent year-over-year changes of -40.63% and -11.35%, respectively.
Any recent changes to analyst estimates for KeyCorp should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.66% higher. KeyCorp is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 9.89. For comparison, its industry has an average Forward P/E of 8.47, which means KeyCorp is trading at a premium to the group.
Also, we should mention that KEY has a PEG ratio of 2.3. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Major Regional was holding an average PEG ratio of 1.47 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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KeyCorp (KEY) Stock Sinks As Market Gains: What You Should Know
KeyCorp (KEY - Free Report) closed the most recent trading day at $11.21, moving -0.36% from the previous trading session. This change lagged the S&P 500's 0.67% gain on the day. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Heading into today, shares of the company had lost 2.68% over the past month, outpacing the Finance sector's loss of 3.09% and lagging the S&P 500's loss of 0.73% in that time.
Wall Street will be looking for positivity from KeyCorp as it approaches its next earnings report date. This is expected to be October 19, 2023. In that report, analysts expect KeyCorp to post earnings of $0.28 per share. This would mark a year-over-year decline of 49.09%. Meanwhile, our latest consensus estimate is calling for revenue of $1.55 billion, down 17.35% from the prior-year quarter.
KEY's full-year Zacks Consensus Estimates are calling for earnings of $1.14 per share and revenue of $6.42 billion. These results would represent year-over-year changes of -40.63% and -11.35%, respectively.
Any recent changes to analyst estimates for KeyCorp should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.66% higher. KeyCorp is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 9.89. For comparison, its industry has an average Forward P/E of 8.47, which means KeyCorp is trading at a premium to the group.
Also, we should mention that KEY has a PEG ratio of 2.3. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Major Regional was holding an average PEG ratio of 1.47 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.