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KeyCorp (KEY) Meets Q1 Earnings Estimates, Revenues Up Y/Y
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Have you been eager to see how KeyCorp (KEY - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Cleveland-based bank-oriented financial services company’s earnings release this morning:
In Line Earnings
KeyCorp came out with earnings per share of 38 cents in line with the Zacks Consensus Estimate.
Rise in revenue supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for KeyCorp depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate of 38 cents per share remained stable over the last seven days.
KeyCorp has delivered positive surprises in only one and matched in two of the trailing four quarters, the average beat being 1.5%.
KeyCorp posted total revenues of $1.55 billion, marginally below the Zacks Consensus Estimate of $1.56 billion. Further, the top-line was 3.1% above the year-ago figure.
Key Stats to Note:
Net income was $418 million, up 29% from the prior-year quarter
Net interest margin up 2 basis point year over year to 3.15%
Provision for credit losses fell 3.2% from the year-ago quarter to $61 million
Average loans were $86.9 billion
Average deposits stood at $102.6 billion
What Zacks Rank Says
Currently KeyCorp has a Zacks Rank #3 (Hold). Since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this KeyCorp earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
KeyCorp (KEY) Meets Q1 Earnings Estimates, Revenues Up Y/Y
Have you been eager to see how KeyCorp (KEY - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Cleveland-based bank-oriented financial services company’s earnings release this morning:
In Line Earnings
KeyCorp came out with earnings per share of 38 cents in line with the Zacks Consensus Estimate.
Rise in revenue supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for KeyCorp depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate of 38 cents per share remained stable over the last seven days.
KeyCorp has delivered positive surprises in only one and matched in two of the trailing four quarters, the average beat being 1.5%.
KeyCorp Price and EPS Surprise
KeyCorp Price and EPS Surprise | KeyCorp Quote
Revenue Came In Lower Than Expected
KeyCorp posted total revenues of $1.55 billion, marginally below the Zacks Consensus Estimate of $1.56 billion. Further, the top-line was 3.1% above the year-ago figure.
Key Stats to Note:
What Zacks Rank Says
Currently KeyCorp has a Zacks Rank #3 (Hold). Since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this KeyCorp earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>