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KeyCorp (KEY) closed the most recent trading day at $19.82, moving -0.5% from the previous trading session. This change lagged the S&P 500's daily gain of 2.47%. Meanwhile, the Dow gained 1.76%, and the Nasdaq, a tech-heavy index, added 0.71%.
Prior to today's trading, shares of the company had lost 0.55% over the past month. This has was narrower than the Finance sector's loss of 1.77% and the S&P 500's loss of 2.59% in that time.
KeyCorp will be looking to display strength as it nears its next earnings release, which is expected to be July 21, 2022. On that day, KeyCorp is projected to report earnings of $0.55 per share, which would represent a year-over-year decline of 23.61%. Meanwhile, our latest consensus estimate is calling for revenue of $1.82 billion, up 2.72% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $7.33 billion. These totals would mark changes of -14.5% and +0.85%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for KeyCorp. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 1.13% higher. KeyCorp is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, KeyCorp currently has a Forward P/E ratio of 8.9. For comparison, its industry has an average Forward P/E of 11.01, which means KeyCorp is trading at a discount to the group.
It is also worth noting that KEY currently has a PEG ratio of 0.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. 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 industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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