KeyCorp (KEY) closed at $17.41 in the latest trading session, marking a -0.46% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.37%.
Heading into today, shares of the company had lost 1.58% over the past month, outpacing the Finance sector's loss of 7.08% and the S&P 500's loss of 5.08% 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. In that report, analysts expect KeyCorp to post earnings of $0.53 per share. This would mark a year-over-year decline of 26.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.78 billion, up 0.81% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.19 per share and revenue of $7.25 billion, which would represent changes of -16.41% and -0.16%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for KeyCorp. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.12% lower. KeyCorp is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, KeyCorp is holding a Forward P/E ratio of 7.99. Its industry sports an average Forward P/E of 9.64, so we one might conclude that KeyCorp is trading at a discount comparatively.
It is also worth noting that KEY currently has a PEG ratio of 0.44. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.37 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.
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