KeyCorp Second Quarter Earnings Preview

S&P 500 (NYSE:SPY) component KeyCorp (NYSE:KEY) will unveil its latest earnings on Tuesday, July 19, 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 net income of 20 cents per share, a rise of more than threefold 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 17 cents. For the year, analysts are projecting profit of 77 cents per share, a rise of 63.8% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 6 cents, reporting net income of 21 cents per share against a mean estimate of profit of 15 cents per share.

Savvy Investing Tip: Our CHEAT SHEET investing framework recommends only stocks with two straight quarters of earnings growth. Learn More >>

Wall St. Revenue Expectations: On average, analysts predict $1.03 billion in revenue this quarter, a decline of 8% from the year ago quarter. Analysts are forecasting total revenue of $4.16 billion for the year, a decline of 6.7% from last year’s revenue of $4.46 billion.

Analyst Ratings: Analysts seem relatively indifferent about KeyCorp with 18 of 23 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has fallen in the past two quarters. In first quarter, revenue declined 9.3% to $1.22 billion from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 4.6%.

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 April 15, 2011 to July 13, 2011, the stock price had fallen 70 cents (-8%) from $8.79 to $8.09. The stock price saw one of its best stretches over the last year between August 2, 2010, and August 6, 2010, when shares rose for five-straight days, rising 9% (+73 cents) over that span. Shares have been on a negative streak of late, closing down every day between July 12, 2011 and July 13, 2011. Shares are down 72 cents (-8.2%) year to date.

(Source: Xignite Financials)

Get Actionable Investing Insights: Check Out Wall St. Cheat Sheet’s newest Feature Trades of the Month!