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KeyCorp (KEY) Dips More Than Broader Market: What You Should Know
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The most recent trading session ended with KeyCorp (KEY - Free Report) standing at $15.26, reflecting a -1.48% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.72% for the day. Meanwhile, the Dow experienced a drop of 1%, and the technology-dominated Nasdaq saw a decrease of 0.95%.
Heading into today, shares of the company had gained 6.24% over the past month, outpacing the Finance sector's gain of 3.08% and the S&P 500's gain of 2.16% in that time.
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. The company is forecasted to report an EPS of $0.23, showcasing a 47.73% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.51 billion, showing a 11.67% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.18 per share and revenue of $6.39 billion, indicating changes of +7.27% and +0.09%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for KeyCorp. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% lower. KeyCorp is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, KeyCorp is at present trading with a Forward P/E ratio of 13.15. This expresses a premium compared to the average Forward P/E of 11.34 of its industry.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 170, this industry ranks in the bottom 33% of all industries, numbering over 250.
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.
To follow KEY in the coming trading sessions, be sure to utilize Zacks.com.
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KeyCorp (KEY) Dips More Than Broader Market: What You Should Know
The most recent trading session ended with KeyCorp (KEY - Free Report) standing at $15.26, reflecting a -1.48% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a loss of 0.72% for the day. Meanwhile, the Dow experienced a drop of 1%, and the technology-dominated Nasdaq saw a decrease of 0.95%.
Heading into today, shares of the company had gained 6.24% over the past month, outpacing the Finance sector's gain of 3.08% and the S&P 500's gain of 2.16% in that time.
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. The company is forecasted to report an EPS of $0.23, showcasing a 47.73% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.51 billion, showing a 11.67% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.18 per share and revenue of $6.39 billion, indicating changes of +7.27% and +0.09%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for KeyCorp. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% lower. KeyCorp is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, KeyCorp is at present trading with a Forward P/E ratio of 13.15. This expresses a premium compared to the average Forward P/E of 11.34 of its industry.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 170, this industry ranks in the bottom 33% of all industries, numbering over 250.
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.
To follow KEY in the coming trading sessions, be sure to utilize Zacks.com.