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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 $14.36, moving +1.77% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.66%.
The the stock of company has risen by 15.18% in the past month, leading the Finance sector's gain of 7.84% and the S&P 500's gain of 5.16%.
The investment community will be closely monitoring the performance of KeyCorp in its forthcoming earnings report. The company is scheduled to release its earnings on January 18, 2024. In that report, analysts expect KeyCorp to post earnings of $0.23 per share. This would mark a year-over-year decline of 39.47%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.54 billion, indicating a 18.56% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.07 per share and a revenue of $6.4 billion, demonstrating changes of -44.27% and -11.71%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for KeyCorp. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.84% decrease. KeyCorp presently features a Zacks Rank of #3 (Hold).
Digging into valuation, KeyCorp currently has a Forward P/E ratio of 13.22. This signifies a premium in comparison to the average Forward P/E of 10.21 for its industry.
It is also worth noting that KEY currently has a PEG ratio of 3.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Banks - Major Regional industry had an average PEG ratio of 1.47.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 150, placing it within the bottom 41% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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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 $14.36, moving +1.77% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.66%.
The the stock of company has risen by 15.18% in the past month, leading the Finance sector's gain of 7.84% and the S&P 500's gain of 5.16%.
The investment community will be closely monitoring the performance of KeyCorp in its forthcoming earnings report. The company is scheduled to release its earnings on January 18, 2024. In that report, analysts expect KeyCorp to post earnings of $0.23 per share. This would mark a year-over-year decline of 39.47%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.54 billion, indicating a 18.56% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.07 per share and a revenue of $6.4 billion, demonstrating changes of -44.27% and -11.71%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for KeyCorp. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.84% decrease. KeyCorp presently features a Zacks Rank of #3 (Hold).
Digging into valuation, KeyCorp currently has a Forward P/E ratio of 13.22. This signifies a premium in comparison to the average Forward P/E of 10.21 for its industry.
It is also worth noting that KEY currently has a PEG ratio of 3.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Banks - Major Regional industry had an average PEG ratio of 1.47.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 150, placing it within the bottom 41% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.