KeyCorp (KEY) closed the most recent trading day at $17.38, moving -0.69% from the previous trading session. This move lagged the S&P 500's daily gain of 0.16%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.17%.
Coming into today, shares of the company had lost 10.99% in the past month. In that same time, the Finance sector lost 7.94%, while the S&P 500 lost 6.79%.
Investors will be hoping for strength from KeyCorp as it approaches its next earnings release, which is expected to be July 21, 2022. The company is expected to report EPS of $0.53, down 26.39% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.78 billion, up 0.74% from the year-ago period.
KEY's full-year Zacks Consensus Estimates are calling for earnings of $2.21 per share and revenue of $7.26 billion. These results would represent year-over-year changes of -15.65% and -0.1%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 1.4% lower within the past month. KeyCorp currently has a Zacks Rank of #3 (Hold).
Investors should also note KeyCorp's current valuation metrics, including its Forward P/E ratio of 7.93. This represents a discount compared to its industry's average Forward P/E of 9.75.
We can also see that KEY currently has a PEG ratio of 0.43. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional was holding an average PEG ratio of 1.35 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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