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KeyCorp (KEY) Stock Sinks As Market Gains: What You Should Know
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The latest trading session saw KeyCorp (KEY - Free Report) ending at $14.11, denoting a -1.47% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.45%.
The investment community will be paying close attention to the earnings performance of KeyCorp in its upcoming release. The company is slated to reveal its earnings on January 18, 2024. The company is expected to report EPS of $0.24, down 36.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.55 billion, down 17.89% from the year-ago period.
KEY's full-year Zacks Consensus Estimates are calling for earnings of $1.07 per share and revenue of $6.4 billion. These results would represent year-over-year changes of -44.27% and -11.6%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for KeyCorp. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. The Zacks Consensus EPS estimate has moved 3.6% lower within the past month. KeyCorp is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, KeyCorp is currently exchanging hands at a Forward P/E ratio of 13.38. This represents a premium compared to its industry's average Forward P/E of 10.3.
Investors should also note that KEY has a PEG ratio of 3.11 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Major Regional was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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) Stock Sinks As Market Gains: What You Should Know
The latest trading session saw KeyCorp (KEY - Free Report) ending at $14.11, denoting a -1.47% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.45%.
The investment community will be paying close attention to the earnings performance of KeyCorp in its upcoming release. The company is slated to reveal its earnings on January 18, 2024. The company is expected to report EPS of $0.24, down 36.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.55 billion, down 17.89% from the year-ago period.
KEY's full-year Zacks Consensus Estimates are calling for earnings of $1.07 per share and revenue of $6.4 billion. These results would represent year-over-year changes of -44.27% and -11.6%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for KeyCorp. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. The Zacks Consensus EPS estimate has moved 3.6% lower within the past month. KeyCorp is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, KeyCorp is currently exchanging hands at a Forward P/E ratio of 13.38. This represents a premium compared to its industry's average Forward P/E of 10.3.
Investors should also note that KEY has a PEG ratio of 3.11 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Major Regional was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.