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KeyCorp (KEY) Flat As Market Sinks: What You Should Know
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KeyCorp (KEY - Free Report) closed the most recent trading day at $9.35, making no change from the previous trading session. This change was narrower than the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the company had lost 5.46% over the past month. This has lagged the Finance sector's gain of 1.96% and the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from KeyCorp as it approaches its next earnings release, which is expected to be July 20, 2023. On that day, KeyCorp is projected to report earnings of $0.35 per share, which would represent a year-over-year decline of 35.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, down 5.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.53 per share and revenue of $6.89 billion, which would represent changes of -20.31% and -4.95%, respectively, from the prior year.
Any recent changes to analyst estimates for KeyCorp should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.28% lower. KeyCorp is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 6.13. This valuation marks a discount compared to its industry's average Forward P/E of 7.61.
Also, we should mention that KEY has a PEG ratio of 1.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.16 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KEY in the coming trading sessions, be sure to utilize Zacks.com.
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KeyCorp (KEY) Flat As Market Sinks: What You Should Know
KeyCorp (KEY - Free Report) closed the most recent trading day at $9.35, making no change from the previous trading session. This change was narrower than the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the company had lost 5.46% over the past month. This has lagged the Finance sector's gain of 1.96% and the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from KeyCorp as it approaches its next earnings release, which is expected to be July 20, 2023. On that day, KeyCorp is projected to report earnings of $0.35 per share, which would represent a year-over-year decline of 35.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, down 5.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.53 per share and revenue of $6.89 billion, which would represent changes of -20.31% and -4.95%, respectively, from the prior year.
Any recent changes to analyst estimates for KeyCorp should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.28% lower. KeyCorp is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 6.13. This valuation marks a discount compared to its industry's average Forward P/E of 7.61.
Also, we should mention that KEY has a PEG ratio of 1.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.16 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KEY in the coming trading sessions, be sure to utilize Zacks.com.