KeyCorp Quarterly Earnings on Deck

S&P 500 (NYSE:SPY) component KeyCorp (NYSE:KEY) will unveil its latest earnings today, October 20, 2011. KeyCorp is a financial holding company that offers its clients retail and commercial banking, commercial leasing, investment management, consumer finance and investment banking products and services.

KeyCorp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 21 cents per share, a rise of 10.5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 19 cents. Between one and three months ago, the average estimate moved up. It has dropped from 22 cents during the last month. For the year, analysts are projecting net income of 86 cents per share, a rise of 83% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 6 cents, coming in at profit of 26 cents a share versus the estimate of net income of 20 cents a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: On average, analysts predict $1.01 billion in revenue this quarter, a decline of 10.6% from the year ago quarter. Analysts are forecasting total revenue of $4.09 billion for the year, a decline of 8.3% from last year’s revenue of $4.46 billion.

Analyst Ratings: Analysts seem relatively indifferent about KeyCorp with 15 of 22 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose more than threefold to $240 million (25 cents a share) from $70 million (3 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 12.8% to $1.18 billion from $1.35 billion.

Key Stats:

Revenue has fallen for the past three quarters. Revenue fell 9.3% in first quarter from the year earlier and 4.6% in the fourth quarter of the last fiscal year.

Competitors to Watch: Wells Fargo & Company (NYSE:WFC), SunTrust Banks, Inc. (NYSE:STI), JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corp. (NYSE:BAC), PNC Financial Services (NYSE:PNC), Citigroup Inc. (NYSE:C), Regions Financial Corp. (NYSE:RF), Northrim BanCorp, Inc. (NASDAQ:NRIM), Pacific Continental Corp. (NASDAQ:PCBK), and Zions Bancorporation (NASDAQ:ZION).

Stock Price Performance: During July 21, 2011 to October 14, 2011, the stock price had fallen $1.99 (-23.8%) from $8.36 to $6.37. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 1, 2011 when shares rose for six-straight days, rising 6.5% (+51 cents) over that span. It saw one of its worst periods between July 25, 2011 and July 29, 2011 when shares fell for five-straight days, falling 4.4% (-37 cents) over that span. Shares are down $2.48 (-28.02%) year to date.

(Source: Xignite Financials)

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