KeyCorp (KEY) closed the most recent trading day at $17.61, moving +0.28% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.01%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Heading into today, shares of the company had lost 11.4% over the past month, lagging the Finance sector's loss of 8.01% and the S&P 500's loss of 6.08% in that time.
Investors will be hoping for strength from KeyCorp as it approaches its next earnings release, which is expected to be July 21, 2022. On that day, KeyCorp is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 25%. Our most recent consensus estimate is calling for quarterly revenue of $1.79 billion, up 1.58% from the year-ago period.
KEY's full-year Zacks Consensus Estimates are calling for earnings of $2.20 per share and revenue of $7.25 billion. These results would represent year-over-year changes of -16.03% and -0.14%, respectively.
Any recent changes to analyst estimates for KeyCorp should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.51% lower. KeyCorp is currently a Zacks Rank #3 (Hold).
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 7.97. Its industry sports an average Forward P/E of 9.84, so we one might conclude that KeyCorp is trading at a discount comparatively.
Meanwhile, KEY's PEG ratio is currently 0.44. 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 1.38 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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