KeyCorp (KEY) Stock Sinks As Market Gains: What You Should Know
KeyCorp (KEY) closed at $14.26 in the latest trading session, marking a -0.63% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.04%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.28%.
Shares of the company have depreciated by 1.31% over the course of the past month, underperforming the Finance sector's gain of 3.66% and the S&P 500's gain of 5.01%.
Market participants will be closely following the financial results of KeyCorp in its upcoming release. 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. Meanwhile, our latest consensus estimate is calling for revenue of $1.51 billion, down 11.56% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.22 per share and a revenue of $6.39 billion, demonstrating changes of +10.91% and +0.1%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for KeyCorp. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.81% lower. KeyCorp presently features a Zacks Rank of #3 (Hold).
Looking at valuation, KeyCorp is presently trading at a Forward P/E ratio of 11.77. This expresses a premium compared to the average Forward P/E of 10.57 of its industry.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 29, this industry ranks in the top 12% of all industries, numbering over 250.
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.
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) : Free Stock Analysis Report
