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KeyCorp Prepares to Report Q3 Earnings as Revenue Growth Decelerates

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KEY$19.99 0.25%

KeyCorp (KEY) is scheduled to announce its third-quarter earnings on Tuesday before the market opens. Wall Street expects the regional banking company to report an 8.1% year-over-year increase in revenue. This projected growth reflects a deceleration from the 17.5% revenue increase recorded in the same quarter last year, though analysts covering KeyCorp have generally kept their estimates unchanged over the past month.

The upcoming earnings release follows a second quarter in which KeyCorp met revenue expectations with $1.96 billion in sales, up 6.7% year-over-year, but missed forecasts for net interest income and tangible book value per share. Regional bank stocks have generally struggled in recent weeks, falling an average of 4.9% over the past month, while KeyCorp shares have dropped 4.7% over the same period. Meanwhile, regional peers Independent Bank and Regions Financial both exceeded Q3 revenue estimates by 0.6%.

Wall Street analysts hold an average price target of $25.11 for KeyCorp, compared to the stock's recent trading price of $19.99. Investors will be observing whether KeyCorp can continue its historic trend of meeting revenue forecasts and navigate broader industry headwinds.

Key points

  • KeyCorp (KEY) will report third-quarter earnings on Tuesday morning before market open.
  • Wall Street forecasts 8.1% year-over-year revenue growth for KeyCorp, down from 17.5% growth in Q3 last year.
  • KeyCorp met Q2 revenue targets at $1.96 billion but missed estimates on net interest income and tangible book value per share.
  • Regional banking peers Independent Bank and Regions Financial both topped Q3 revenue expectations by 0.6%.
  • KeyCorp shares are down 4.7% over the past month, trading at $19.99 against an average analyst price target of $25.11.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

When does KeyCorp report Q3 earnings?

KeyCorp is set to report its third-quarter financial results on Tuesday before the market opens.

What are analysts expecting for KeyCorp's Q3 revenue?

Analysts expect KeyCorp's revenue to grow 8.1% year-over-year, slowing from 17.5% growth in the same period last year.

What is the average price target for KeyCorp stock?

Wall Street analysts have an average price target of $25.11 for KeyCorp, compared to its recent trading price of $19.99.