Have you been eager to see how KeyCorp (KEY - Free Report) performed in Q3 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 45 cents, outpacing the Zacks Consensus Estimate of 44 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 negative stance prior to the earnings release. The Zacks Consensus Estimate moved 2.2% lower over the last 30 days.
Revenue Came In Lower Than Expected
KeyCorp posted total revenues of $1.60 billion, below the Zacks Consensus Estimate of $1.63 billion.
Key Stats to Note:
- Net income was $482 million, up 32.4% from the prior-year quarter
- Net interest margin from continuing operations increased 3 basis points year over year to 3.18%
- Provision for credit losses increased 21.6% from the year-ago quarter to $62 million
- Average loans were $88.5 billion
- Average deposits stood at $105.6 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.
(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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Free: See Our Top Stock and 4 Runners Up >>
Have you been eager to see how KeyCorp (KEY - Free Report) performed in Q3 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 45 cents, outpacing the Zacks Consensus Estimate of 44 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 negative stance prior to the earnings release. The Zacks Consensus Estimate moved 2.2% lower over the last 30 days.
Revenue Came In Lower Than Expected
KeyCorp posted total revenues of $1.60 billion, below the Zacks Consensus Estimate of $1.63 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!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
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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