KeyCorp (KEY) Stock Sinks As Market Gains: What You Should Know
KeyCorp (KEY) closed the most recent trading day at $14.97, moving -0.13% from the previous trading session. This change lagged the S&P 500's 1.03% gain on the day. Meanwhile, the Dow gained 0.34%, and the Nasdaq, a tech-heavy index, added 1.51%.
Shares of the company have appreciated by 7.84% over the course of the past month, outperforming the Finance sector's gain of 4.69% and the S&P 500's gain of 3.21%.
Investors will be eagerly watching for the performance of KeyCorp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 18, 2024. The company is expected to report EPS of $0.23, down 47.73% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.51 billion, down 11.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.22 per share and revenue of $6.39 billion, which would represent changes of +10.91% and +0.1%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KeyCorp. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.45% lower. KeyCorp is currently a Zacks Rank #3 (Hold).
Looking at valuation, KeyCorp is presently trading at a Forward P/E ratio of 12.29. This denotes a premium relative to the industry's average Forward P/E of 11.12.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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KeyCorp (KEY) : Free Stock Analysis Report
