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:
Earnings
KeyCorp came out with adjusted earnings per share of 48 cents, which is at par with the Zacks Consensus Estimate.
Lower expenses aided 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 has remained unchanged over the last seven days.
Before reporting Q4 earnings, the company delivered positive surprises in two and matched in one of trailing four quarters, as shown in the chart below:
Overall, the company has a negative earnings surprise of 0.1% in the trailing four quarters.
Revenues
KeyCorp posted total revenues of $1.64 billion, which was in line with the Zacks Consensus Estimate.
Key Q4 Stats to Note:
- Net income (after considering non-recurring items) was $439 million or 45 cents per share
- Net interest margin (tax-equivalent) decreased 18 basis points year over year to 2.98%
- Expenses declined 3.2% from the year-ago quarter to $980 million
- Provision for credit losses increased 84.7% from the year-ago quarter to $109 million
- Average loans were $93.6 billion
- Average deposits stood at $112.6 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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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:
Earnings
KeyCorp came out with adjusted earnings per share of 48 cents, which is at par with the Zacks Consensus Estimate.
Lower expenses aided 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 has remained unchanged over the last seven days.
Before reporting Q4 earnings, the company delivered positive surprises in two and matched in one of trailing four quarters, as shown in the chart below:
Overall, the company has a negative earnings surprise of 0.1% in the trailing four quarters.
Revenues
KeyCorp posted total revenues of $1.64 billion, which was in line with the Zacks Consensus Estimate.
Key Q4 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 $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 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 >>
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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