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KeyCorp (KEY) Advances While Market Declines: Some Information for Investors
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KeyCorp (KEY - Free Report) closed the most recent trading day at $14.48, moving +0.42% from the previous trading session. This change outpaced the S&P 500's 0.65% loss on the day. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, lost 0.96%.
The company's shares have seen an increase of 1.55% over the last month, not keeping up with the Finance sector's gain of 3.96% and the S&P 500's gain of 3.27%.
Analysts and investors alike will be keeping a close eye on the performance of KeyCorp in its upcoming earnings disclosure. The company's earnings report is set to go public on April 18, 2024. It is anticipated that the company will report an EPS of $0.23, marking a 47.73% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.51 billion, down 11.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.22 per share and revenue of $6.39 billion, which would represent changes of +10.91% and +0.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for KeyCorp. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. KeyCorp is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, KeyCorp is currently exchanging hands at a Forward P/E ratio of 11.82. This indicates a premium in contrast to its industry's Forward P/E of 10.81.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Advances While Market Declines: Some Information for Investors
KeyCorp (KEY - Free Report) closed the most recent trading day at $14.48, moving +0.42% from the previous trading session. This change outpaced the S&P 500's 0.65% loss on the day. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, lost 0.96%.
The company's shares have seen an increase of 1.55% over the last month, not keeping up with the Finance sector's gain of 3.96% and the S&P 500's gain of 3.27%.
Analysts and investors alike will be keeping a close eye on the performance of KeyCorp in its upcoming earnings disclosure. The company's earnings report is set to go public on April 18, 2024. It is anticipated that the company will report an EPS of $0.23, marking a 47.73% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.51 billion, down 11.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.22 per share and revenue of $6.39 billion, which would represent changes of +10.91% and +0.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for KeyCorp. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. KeyCorp is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, KeyCorp is currently exchanging hands at a Forward P/E ratio of 11.82. This indicates a premium in contrast to its industry's Forward P/E of 10.81.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.