Have you been eager to see how KeyCorp (KEY - Free Report) performed in Q4 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 adjusted earnings per share of 36 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 remained stable over the last seven days.
KeyCorp has a decent earnings surprise history. The company delivered positive surprises in two quarters of the prior four quarters, with average beat of 5.3%.
KeyCorp Price and EPS Surprise
Revenue Came In Higher Than Expected
KeyCorp posted total revenues of $1.61 billion, beating the Zacks Consensus Estimate of $1.58 billion. Further, the top-line was 2.7% above the year-ago figure.
Key Stats to Note:
• Including the one-time charge related to tax reform and merger related charges, the earnings per share was 17 cents.
• Net interest margin down 3 basis point year over year to 3.09%
• Provision for credit losses fell 25.8% from the year-ago quarter to $49 million
• Average loans were $86 billion
• Average deposits stood at $103.8 billion
What Zacks Rank Says
Currently KeyCorp has a Zacks Rank #2 (Buy). 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!
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Have you been eager to see how KeyCorp (KEY - Free Report) performed in Q4 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 adjusted earnings per share of 36 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 remained stable over the last seven days.
KeyCorp has a decent earnings surprise history. The company delivered positive surprises in two quarters of the prior four quarters, with average beat of 5.3%.
KeyCorp Price and EPS Surprise
Revenue Came In Higher Than Expected
KeyCorp posted total revenues of $1.61 billion, beating the Zacks Consensus Estimate of $1.58 billion. Further, the top-line was 2.7% above the year-ago figure.
Key Stats to Note:
• Including the one-time charge related to tax reform and merger related charges, the earnings per share was 17 cents.
• Net interest margin down 3 basis point year over year to 3.09%
• Provision for credit losses fell 25.8% from the year-ago quarter to $49 million
• Average loans were $86 billion
• Average deposits stood at $103.8 billion
What Zacks Rank Says
Currently KeyCorp has a Zacks Rank #2 (Buy). 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!
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2018 today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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