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KeyCorp (KEY) Gains As Market Dips: What You Should Know
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KeyCorp (KEY - Free Report) ended the recent trading session at $14.33, demonstrating a +1.06% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.56%.
Shares of the company witnessed a gain of 9.41% over the previous month, beating the performance of the Finance sector with its gain of 4.45% and the S&P 500's gain of 2.56%.
The investment community will be closely monitoring the performance of KeyCorp in its forthcoming earnings report. The company is scheduled to release its earnings on January 18, 2024. The company is expected to report EPS of $0.23, down 39.47% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.54 billion, indicating a 18.56% decline compared to the corresponding quarter of the prior year.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.01% lower within the past month. KeyCorp currently has a Zacks Rank of #3 (Hold).
In terms of valuation, KeyCorp is currently trading at a Forward P/E ratio of 11.12. This signifies a premium in comparison to the average Forward P/E of 10.63 for its industry.
Meanwhile, KEY's PEG ratio is currently 2.59. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Banks - Major Regional industry stood at 1.68 at the close of the market yesterday.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KEY in the coming trading sessions, be sure to utilize Zacks.com.
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KeyCorp (KEY) Gains As Market Dips: What You Should Know
KeyCorp (KEY - Free Report) ended the recent trading session at $14.33, demonstrating a +1.06% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.56%.
Shares of the company witnessed a gain of 9.41% over the previous month, beating the performance of the Finance sector with its gain of 4.45% and the S&P 500's gain of 2.56%.
The investment community will be closely monitoring the performance of KeyCorp in its forthcoming earnings report. The company is scheduled to release its earnings on January 18, 2024. The company is expected to report EPS of $0.23, down 39.47% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.54 billion, indicating a 18.56% decline compared to the corresponding quarter of the prior year.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.01% lower within the past month. KeyCorp currently has a Zacks Rank of #3 (Hold).
In terms of valuation, KeyCorp is currently trading at a Forward P/E ratio of 11.12. This signifies a premium in comparison to the average Forward P/E of 10.63 for its industry.
Meanwhile, KEY's PEG ratio is currently 2.59. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Banks - Major Regional industry stood at 1.68 at the close of the market yesterday.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KEY in the coming trading sessions, be sure to utilize Zacks.com.