Have you been eager to see how KeyCorp (KEY – Free Report) performed in Q3 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:
In Line Earnings
KeyCorp came out with adjusted earnings per share of 35 cents in line with the Zacks Consensus Estimate.
Rise in revenue supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for KeyCorp depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the lastsevendays.
KeyCorp has a decent earnings surprise history. The company delivered positive surprises in three quarters of the prior four quarters, with average beat of 9.1%.
KeyCorp Price and EPS Surprise
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Revenue Came In Lower Than Expected
KeyCorp posted total revenues of $1.55 billion, which lagged the Zacks Consensus Estimate of $1.56 billion. However, the figure was above the year-ago figure.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for KeyCorp. However, 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.
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