Market Performance Overview
KeyCorp (KEY) proved its mettle in the latest trading session, closing at $15.19 with a robust 1.06% surge from the prior day. This performance outpaced the S&P 500, which faced a 0.31% decline. Meanwhile, both the Dow and the Nasdaq experienced setbacks of 0.41% and 0.27%, respectively.
Recent Growth and Sector Comparison
Over the past month, KeyCorp shares have surged by 5.4%, surpassing the Finance sector’s growth of 3.08% and the S&P 500’s rise of 3.05%.
Upcoming Earnings Report Insights
Investors eagerly anticipate KeyCorp’s upcoming earnings report slated for April 18, 2024. Projections indicate earnings of $0.23 per share, signaling a 47.73% decline from the previous year. Revenue estimates stand at $1.51 billion, reflecting a 11.61% drop from the same quarter in the prior year.
Analyst Estimates and Stock Price Relationship
Monitoring analyst estimates is critical in discerning short-term business trends and stock performance. Positive revisions in estimates can be indicative of a favorable business outlook for KeyCorp.
The Zacks Rank, a reliable model based on estimate changes, has a historical track record of success. With KeyCorp’s current Zacks Rank at #3 (Hold), investors are keenly observing the stock’s trajectory.
Valuation and Industry Comparison
KeyCorp is presently trading at a Forward P/E ratio of 12.76, displaying a premium compared to the industry average of 11.21. As part of the Finance sector, specifically in the Banks – Major Regional industry, which boasts a Zacks Industry Rank of 99, placing it in the top 40% of all industries.
The Zacks Industry Rank illustrates industry strength by evaluating individual stock rankings. Our research shows the top 50% of rated industries have outperformed the bottom 50% by a 2-to-1 margin.
Zacks Top 10 Stocks and Expert Insights
In exciting news, Zacks has unveiled its Top 10 Stocks for 2024, selected by Zacks Director of Research, Sheraz Mian. The portfolio, which saw a remarkable +974.1% gain from 2012 to November 2023, showcases stellar performance. Investors are urged to explore these top stocks with compelling potential.
For further stock-moving metrics and insights, visit Zacks.com.
The opinions expressed are solely those of the author and may not coincide with Nasdaq, Inc.’s viewpoints.
