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KeyCorp (KEY) Outpaces Stock Market Gains: What You Should Know
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KeyCorp (KEY - Free Report) closed the most recent trading day at $10.08, moving +1.72% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.22%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 4.63%.
Coming into today, shares of the company had lost 2.65% in the past month. In that same time, the Finance sector gained 5.82%, while the S&P 500 gained 6.22%.
KeyCorp will be looking to display strength as it nears its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $0.35, down 35.19% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.7 billion, down 4.54% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.56 per share and revenue of $6.89 billion, which would represent changes of -18.75% and -4.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KeyCorp. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.3% higher. KeyCorp is currently a Zacks Rank #3 (Hold).
In terms of valuation, KeyCorp is currently trading at a Forward P/E ratio of 6.34. This valuation marks a discount compared to its industry's average Forward P/E of 7.96.
Also, we should mention that KEY has a PEG ratio of 1.47. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.18 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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KeyCorp (KEY) Outpaces Stock Market Gains: What You Should Know
KeyCorp (KEY - Free Report) closed the most recent trading day at $10.08, moving +1.72% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.22%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 4.63%.
Coming into today, shares of the company had lost 2.65% in the past month. In that same time, the Finance sector gained 5.82%, while the S&P 500 gained 6.22%.
KeyCorp will be looking to display strength as it nears its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $0.35, down 35.19% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.7 billion, down 4.54% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.56 per share and revenue of $6.89 billion, which would represent changes of -18.75% and -4.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KeyCorp. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.3% higher. KeyCorp is currently a Zacks Rank #3 (Hold).
In terms of valuation, KeyCorp is currently trading at a Forward P/E ratio of 6.34. This valuation marks a discount compared to its industry's average Forward P/E of 7.96.
Also, we should mention that KEY has a PEG ratio of 1.47. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.18 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.