KeyCorp Q3 Earnings Insights: Analyst Predictions and Trends
KeyCorp Earnings Report Preview
KeyCorp (NYSE: KEY) is gearing up to reveal its earnings results for the third quarter before market open. Analysts are keenly anticipating this announcement as it could mark a significant turnaround for the Cleveland-based financial institution. This is especially noteworthy considering last year's performance, which recorded a loss of 47 cents per share.
Expectations for Q3 Earnings
Industry experts forecast that KeyCorp will report earnings of 38 cents per share for the third quarter, a considerable improvement from the previous year's figures. Additionally, they project quarterly revenues to reach approximately $1.88 billion, which marks a significant increase compared to $695 million a year earlier. These expectations reflect a positive outlook for the company amidst the financial market's volatility.
KeyCorp's Recent Performance
The trajectory for KeyCorp is promising, as seen in their last earnings report from the second quarter, which revealed better-than-expected sales figures. This has surely set a more optimistic tone leading up to the upcoming earnings call.
Market Reaction
In light of the positive projections, KeyCorp's stock recently closed at $18.01 after seeing a rise of 2.6% on the previous trading day. Such market activity indicates a growing confidence in the company as investors speculate how the results will impact future performance and stock value.
Analyst Ratings Overview
As KeyCorp prepares to release its earnings, analysts have been adjusting their ratings and price targets accordingly:
UBS's Analyst Insight
UBS analyst Erika Najarian has maintained a Buy rating and bumped up the price target from $22 to $23, reflecting a positive sentiment about KeyCorp's prospects.
RBC Capital's Stance
RBC Capital analyst Gerard Cassidy reiterated an Outperform rating for KeyCorp, setting a price target of $20, indicating confidence in the company's growth potential.
Wells Fargo's Analysis
Wells Fargo’s Mike Mayo has provided an Overweight rating with an increased price target from $20 to $22, showcasing optimism regarding KeyCorp's financial health.
Evercore ISI’s Evaluation
Evercore ISI analyst John Pancari has also echoed a strong endorsement with an Outperform rating and raised the price target from $21 to $22, suggesting sustained growth.
Morgan Stanley's Forecast
Morgan Stanley analyst Manan Gosalia maintained an Equal-Weight rating, raising the price target from $20 to $24, indicating potential growth while keeping a balanced view.
Considering an Investment in KeyCorp?
If you're contemplating investing in KEY stock, it’s essential to consider these analyst insights. The positive revisions and upcoming earnings report could provide indicators of the company’s performance trajectory going forward.
Frequently Asked Questions
When is KeyCorp's earnings report scheduled?
KeyCorp is set to release its earnings results for the third quarter before the market opens.
What are analysts predicting for KeyCorp's Q3 earnings?
Analysts expect KeyCorp to report earnings of 38 cents per share for Q3.
How did KeyCorp perform in Q2?
KeyCorp posted better-than-expected sales in its previous Q2 report.
What is the current stock price for KeyCorp?
KeyCorp shares recently closed at $18.01.
What are the recent analyst ratings for KeyCorp?
Analysts have generally maintained positive ratings, with upward price target adjustments indicating confidence in KeyCorp's future performance.
About The Author
Contact Dominic Sanders privately here. Or send an email with ATTN: Dominic Sanders as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.