KeyCorp (KEY) Stock Sinks As Market Gains: What You Should Know
In the latest market close, KeyCorp (KEY) reached $14.19, with a -0.56% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.8%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq gained 1.14%.
Shares of the company witnessed a gain of 0.71% over the previous month, trailing the performance of the Finance sector with its gain of 3.96% and the S&P 500's gain of 5.2%.
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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.22 per share and a revenue of $6.39 billion, indicating changes of +10.91% and +0.1%, respectively, from the former 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, there's been a 0.81% fall in the Zacks Consensus EPS estimate. KeyCorp presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, KeyCorp is currently exchanging hands at a Forward P/E ratio of 11.7. Its industry sports an average Forward P/E of 10.71, so one might conclude that KeyCorp is trading at a premium comparatively.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 39, finds itself in the top 16% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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KeyCorp (KEY) : Free Stock Analysis Report
