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KeyCorp (KEY) Dips More Than Broader Markets: What You Should Know
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KeyCorp (KEY - Free Report) closed the most recent trading day at $11.23, moving -1.23% from the previous trading session. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Coming into today, shares of the company had gained 4.41% in the past month. In that same time, the Finance sector gained 1.95%, while the S&P 500 gained 2.08%.
KeyCorp will be looking to display strength as it nears its next earnings release, which is expected to be October 19, 2023. The company is expected to report EPS of $0.28, down 49.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.55 billion, down 17.35% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.14 per share and revenue of $6.42 billion, which would represent changes of -40.63% and -11.35%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 9.97. For comparison, its industry has an average Forward P/E of 8.46, which means KeyCorp is trading at a premium to the group.
Meanwhile, KEY's PEG ratio is currently 2.32. 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 industry currently had an average PEG ratio of 1.44 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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KeyCorp (KEY) Dips More Than Broader Markets: What You Should Know
KeyCorp (KEY - Free Report) closed the most recent trading day at $11.23, moving -1.23% from the previous trading session. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Coming into today, shares of the company had gained 4.41% in the past month. In that same time, the Finance sector gained 1.95%, while the S&P 500 gained 2.08%.
KeyCorp will be looking to display strength as it nears its next earnings release, which is expected to be October 19, 2023. The company is expected to report EPS of $0.28, down 49.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.55 billion, down 17.35% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.14 per share and revenue of $6.42 billion, which would represent changes of -40.63% and -11.35%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 9.97. For comparison, its industry has an average Forward P/E of 8.46, which means KeyCorp is trading at a premium to the group.
Meanwhile, KEY's PEG ratio is currently 2.32. 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 industry currently had an average PEG ratio of 1.44 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.