KeyCorp (KEY) Stock Moves -1.41%: What You Should Know
In the latest trading session, KeyCorp (KEY) closed at $19.64, marking a -1.41% move from the previous day. This change was narrower than the S&P 500's 1.64% loss on the day. At the same time, the Dow lost 1.05%, and the tech-heavy Nasdaq lost 0.41%.
Coming into today, shares of the company had gained 0.71% in the past month. In that same time, the Finance sector gained 2.16%, while the S&P 500 gained 0.73%.
KeyCorp will be looking to display strength as it nears its next earnings release, which is expected to be July 21, 2022. In that report, analysts expect KeyCorp to post earnings of $0.55 per share. This would mark a year-over-year decline of 23.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.82 billion, up 2.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.24 per share and revenue of $7.33 billion, which would represent changes of -14.5% and +0.85%, respectively, from the prior year.
Investors might also notice recent changes 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. KeyCorp is currently a Zacks Rank #3 (Hold).
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 8.9. This represents a discount compared to its industry's average Forward P/E of 10.96.
Investors should also note that KEY has a PEG ratio of 0.49 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. KEY's industry had an average PEG ratio of 1.57 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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