Yahoo Finance KeyCorp (KEY) Beats Q4 Earnings & Revenue Estimates
Have you been eager to see how KeyCorp KEY performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this Cleveland-based bank-oriented financial services company’s earnings release this morning:
An Earnings Beat
KeyCorp came out with adjusted earnings per share of 48 cents, outpacing the Zacks Consensus Estimate by a penny.
Rise in revenue and lower expenses supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for KeyCorp depicted a negative stance prior to the earnings release. The Zacks Consensus Estimate moved 2.1% lower over the last seven days.
KeyCorp Price and EPS Surprise
KeyCorp Price and EPS Surprise | KeyCorp Quote
Revenue Came In Higher Than Expected
KeyCorp posted total revenues of $1.65 billion, which was above the Zacks Consensus Estimate of $1.63 billion.
Key Q4 Stats to Note:
Net income (after considering non-recurring items) was $459 million or 45 cents per share
Net interest margin increased 7 basis points year over year to 3.16%
Provision for credit losses increased 20.4% from the year-ago quarter to $59 million
Average loans were $89.3 billion
Average deposits stood at $108 billion
What Zacks Rank Says
Currently, KeyCorp has a Zacks Rank #3 (Hold). Since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this KeyCorp earnings report!
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