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KeyCorp (KEY) Dips More Than Broader Markets: What You Should Know
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KeyCorp (KEY - Free Report) closed the most recent trading day at $10.89, moving -1.8% from the previous trading session. This change lagged the S&P 500's daily loss of 0.32%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.
Coming into today, shares of the company had lost 3.65% in the past month. In that same time, the Finance sector lost 2.72%, while the S&P 500 lost 0.12%.
Investors will be hoping for strength from KeyCorp as it approaches its next earnings release, which is expected to be October 19, 2023. The company is expected to report EPS of $0.28, down 49.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.55 billion, down 17.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.14 per share and revenue of $6.42 billion. These totals would mark changes of -40.63% and -11.35%, respectively, from last year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.66% higher within the past month. KeyCorp is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that KeyCorp has a Forward P/E ratio of 9.75 right now. Its industry sports an average Forward P/E of 8.48, so we one might conclude that KeyCorp is trading at a premium comparatively.
We can also see that KEY currently has a PEG ratio of 2.27. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. KEY's industry had an average PEG ratio of 1.47 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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KeyCorp (KEY) Dips More Than Broader Markets: What You Should Know
KeyCorp (KEY - Free Report) closed the most recent trading day at $10.89, moving -1.8% from the previous trading session. This change lagged the S&P 500's daily loss of 0.32%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.
Coming into today, shares of the company had lost 3.65% in the past month. In that same time, the Finance sector lost 2.72%, while the S&P 500 lost 0.12%.
Investors will be hoping for strength from KeyCorp as it approaches its next earnings release, which is expected to be October 19, 2023. The company is expected to report EPS of $0.28, down 49.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.55 billion, down 17.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.14 per share and revenue of $6.42 billion. These totals would mark changes of -40.63% and -11.35%, respectively, from last year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.66% higher within the past month. KeyCorp is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that KeyCorp has a Forward P/E ratio of 9.75 right now. Its industry sports an average Forward P/E of 8.48, so we one might conclude that KeyCorp is trading at a premium comparatively.
We can also see that KEY currently has a PEG ratio of 2.27. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. KEY's industry had an average PEG ratio of 1.47 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.