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KeyCorp (KEY) Beats Q2 Earnings, Revenues Up Marginally
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Have you been eager to see how KeyCorp (KEY - Free Report) performed in Q2 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:
An Earnings Beat
KeyCorp came out with earnings per share of 44 cents, outpacing the Zacks Consensus Estimate of 42 cents.
Rise in revenue and lower expenses supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for KeyCorp depicted a positive stance prior to the earnings release. The Zacks Consensus Estimate have moved 2.4% upward over the last 30 days.
KeyCorp posted total revenues of $1.65 billion, above the Zacks Consensus Estimate of $1.59 billion.
Key Stats to Note:
Net income was $482 million, up 17% from the prior-year quarter
Net interest margin declined 11 basis point year over year to 3.19%
Provision for credit losses fell 3% from the year-ago quarter to $64 million
Average loans were $88.6 billion
Average deposits stood at $104 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!
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KeyCorp (KEY) Beats Q2 Earnings, Revenues Up Marginally
Have you been eager to see how KeyCorp (KEY - Free Report) performed in Q2 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:
An Earnings Beat
KeyCorp came out with earnings per share of 44 cents, outpacing the Zacks Consensus Estimate of 42 cents.
Rise in revenue and lower expenses supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for KeyCorp depicted a positive stance prior to the earnings release. The Zacks Consensus Estimate have moved 2.4% upward over the last 30 days.
KeyCorp Price and EPS Surprise
KeyCorp Price and EPS Surprise | KeyCorp Quote
Revenue Came In Higher Than Expected
KeyCorp posted total revenues of $1.65 billion, above the Zacks Consensus Estimate of $1.59 billion.
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!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>