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KeyCorp (KEY) Ascends While Market Falls: Some Facts to Note
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KeyCorp (KEY - Free Report) closed the latest trading day at $12.96, indicating a +0.15% change from the previous session's end. This change outpaced the S&P 500's 0.39% loss on the day. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
The company's stock has climbed by 14.51% in the past month, exceeding the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of KeyCorp in its upcoming release. The company is slated to reveal its earnings on January 18, 2024. The company's upcoming EPS is projected at $0.25, signifying a 34.21% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.56 billion, showing a 17.36% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.11 per share and a revenue of $6.41 billion, indicating changes of -42.19% and -11.46%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for KeyCorp. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.62% decrease. KeyCorp is currently a Zacks Rank #3 (Hold).
Digging into valuation, KeyCorp currently has a Forward P/E ratio of 11.62. This expresses a premium compared to the average Forward P/E of 9.13 of its industry.
We can additionally observe that KEY currently boasts a PEG ratio of 2.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Banks - Major Regional industry was having an average PEG ratio of 1.47.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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KeyCorp (KEY) Ascends While Market Falls: Some Facts to Note
KeyCorp (KEY - Free Report) closed the latest trading day at $12.96, indicating a +0.15% change from the previous session's end. This change outpaced the S&P 500's 0.39% loss on the day. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.59%.
The company's stock has climbed by 14.51% in the past month, exceeding the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of KeyCorp in its upcoming release. The company is slated to reveal its earnings on January 18, 2024. The company's upcoming EPS is projected at $0.25, signifying a 34.21% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.56 billion, showing a 17.36% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.11 per share and a revenue of $6.41 billion, indicating changes of -42.19% and -11.46%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for KeyCorp. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.62% decrease. KeyCorp is currently a Zacks Rank #3 (Hold).
Digging into valuation, KeyCorp currently has a Forward P/E ratio of 11.62. This expresses a premium compared to the average Forward P/E of 9.13 of its industry.
We can additionally observe that KEY currently boasts a PEG ratio of 2.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Banks - Major Regional industry was having an average PEG ratio of 1.47.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.