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KeyCorp (KEY) Declines More Than Market: Some Information for Investors
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KeyCorp (KEY - Free Report) closed the most recent trading day at $10.46, moving -0.57% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.23%.
Shares of the company have depreciated by 9.7% over the course of the past month, underperforming the Finance sector's loss of 3.92% and the S&P 500's loss of 2.4%.
Investors will be eagerly watching for the performance of KeyCorp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 19, 2023. The company is forecasted to report an EPS of $0.27, showcasing a 50.91% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.55 billion, indicating a 17.37% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.14 per share and a revenue of $6.42 billion, demonstrating changes of -40.63% and -11.36%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for KeyCorp. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been a 0.84% fall in the Zacks Consensus EPS estimate. KeyCorp is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 9.26. This expresses a premium compared to the average Forward P/E of 7.98 of its industry.
One should further note that KEY currently holds a PEG ratio of 2.15. 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. As of the close of trade yesterday, the Banks - Major Regional industry held an average PEG ratio of 1.28.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 34% of over 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.
To follow KEY in the coming trading sessions, be sure to utilize Zacks.com.
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KeyCorp (KEY) Declines More Than Market: Some Information for Investors
KeyCorp (KEY - Free Report) closed the most recent trading day at $10.46, moving -0.57% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.23%.
Shares of the company have depreciated by 9.7% over the course of the past month, underperforming the Finance sector's loss of 3.92% and the S&P 500's loss of 2.4%.
Investors will be eagerly watching for the performance of KeyCorp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 19, 2023. The company is forecasted to report an EPS of $0.27, showcasing a 50.91% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.55 billion, indicating a 17.37% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.14 per share and a revenue of $6.42 billion, demonstrating changes of -40.63% and -11.36%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for KeyCorp. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been a 0.84% fall in the Zacks Consensus EPS estimate. KeyCorp is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 9.26. This expresses a premium compared to the average Forward P/E of 7.98 of its industry.
One should further note that KEY currently holds a PEG ratio of 2.15. 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. As of the close of trade yesterday, the Banks - Major Regional industry held an average PEG ratio of 1.28.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 34% of over 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.
To follow KEY in the coming trading sessions, be sure to utilize Zacks.com.