Wall Street analysts expect KeyCorp (KEY) to post quarterly earnings of $0.27 per share in its upcoming report, which indicates a year-over-year decline of 6.9%. Revenues are expected to be $1.59 billion, up 1.7% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain KeyCorp metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts' assessment points toward 'Average balance - Total earning assets' reaching $171.36 billion. Compared to the current estimate, the company reported $171.52 billion in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Cash Efficiency Ratio (non-GAAP)' should arrive at 69.9%. Compared to the current estimate, the company reported 70.3% in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Nonperforming assets - Total' of $665.58 million. The estimate compares to the year-ago value of $471 million.
The consensus estimate for 'Nonperforming loans at period-end' stands at $658.15 million. The estimate is in contrast to the year-ago figure of $455 million.
Analysts expect 'Total Risk-based Capital Ratio' to come in at 14.7%. The estimate compares to the year-ago value of 13.8%.
According to the collective judgment of analysts, 'Leverage Ratio' should come in at 9.4%. The estimate is in contrast to the year-ago figure of 8.9%.
It is projected by analysts that the 'Tier 1 Risk-based Capital Ratio' will reach 12.2%. The estimate compares to the year-ago value of 11.4%.
The average prediction of analysts places 'Net interest income (FTE basis)' at $941.92 million. The estimate is in contrast to the year-ago figure of $923 million.
Analysts predict that the 'Cards and payments income' will reach $87.50 million. Compared to the current estimate, the company reported $90 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Investment banking and debt placement fees' will likely reach $156.14 million. Compared to the current estimate, the company reported $141 million in the same quarter of the previous year.
Analysts forecast 'Trust and investment services income' to reach $140.44 million. The estimate compares to the year-ago value of $130 million.
The consensus among analysts is that 'Corporate services income' will reach $69.51 million. Compared to the current estimate, the company reported $73 million in the same quarter of the previous year.
View all Key Company Metrics for KeyCorp here>>>
Over the past month, shares of KeyCorp have returned +7% versus the Zacks S&P 500 composite's +4.9% change. Currently, KEY carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>KeyCorp (KEY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
