KeyCorp (KEY - Free Report) reported $1.52 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 10.8%. EPS of $0.22 for the same period compares to $0.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.51 billion, representing a surprise of +0.78%. The company delivered an EPS surprise of -4.35%, with the consensus EPS estimate being $0.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how KeyCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest margin - Proforma: 2% versus the seven-analyst average estimate of 2.1%.
- Average balance - Total earning assets: $170.02 billion versus $169.90 billion estimated by seven analysts on average.
- Net loan charge-offs to average loans: 0.3% versus 0.3% estimated by six analysts on average.
- Cash Efficiency Ratio (non-GAAP): 74% versus 72.6% estimated by six analysts on average.
- Nonperforming assets - Total: $674 million versus the three-analyst average estimate of $556.76 million.
- Nonperforming loans at period-end: $658 million versus the two-analyst average estimate of $519.93 million.
- Total Risk-based Capital Ratio: 14.5% versus the two-analyst average estimate of 13.8%.
- Leverage Ratio: 9.1% versus the two-analyst average estimate of 9.4%.
- Tier 1 Risk-based Capital Ratio: 12% versus the two-analyst average estimate of 11.5%.
- Trust and investment services income: $136 million compared to the $132.80 million average estimate based on seven analysts.
- Service charges on deposit accounts: $63 million compared to the $64.95 million average estimate based on seven analysts.
- Corporate services income: $69 million compared to the $69.05 million average estimate based on seven analysts.
View all Key Company Metrics for KeyCorp here>>>Shares of KeyCorp have returned -4.1% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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KeyCorp (KEY - Free Report) reported $1.52 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 10.8%. EPS of $0.22 for the same period compares to $0.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.51 billion, representing a surprise of +0.78%. The company delivered an EPS surprise of -4.35%, with the consensus EPS estimate being $0.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how KeyCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest margin - Proforma: 2% versus the seven-analyst average estimate of 2.1%.
- Average balance - Total earning assets: $170.02 billion versus $169.90 billion estimated by seven analysts on average.
- Net loan charge-offs to average loans: 0.3% versus 0.3% estimated by six analysts on average.
- Cash Efficiency Ratio (non-GAAP): 74% versus 72.6% estimated by six analysts on average.
- Nonperforming assets - Total: $674 million versus the three-analyst average estimate of $556.76 million.
- Nonperforming loans at period-end: $658 million versus the two-analyst average estimate of $519.93 million.
- Total Risk-based Capital Ratio: 14.5% versus the two-analyst average estimate of 13.8%.
- Leverage Ratio: 9.1% versus the two-analyst average estimate of 9.4%.
- Tier 1 Risk-based Capital Ratio: 12% versus the two-analyst average estimate of 11.5%.
- Trust and investment services income: $136 million compared to the $132.80 million average estimate based on seven analysts.
- Service charges on deposit accounts: $63 million compared to the $64.95 million average estimate based on seven analysts.
- Corporate services income: $69 million compared to the $69.05 million average estimate based on seven analysts.
View all Key Company Metrics for KeyCorp here>>>Shares of KeyCorp have returned -4.1% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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