KeyCorp (KEY) is expected to report earnings of 47 cents a share on sales of $1.6 billion before the market opens on Jan. 17, based on a FactSet survey of 23 analysts. In the same period a year ago the company posted earnings of 36 cents a share on sales of $1.6 billion. The stock has fallen 9.9% since the company last reported earnings on Oct. 18. Quarterly estimates have risen less than 1 cent a share in the past month. KeyCorp is currently trading at a price-to-forward-earnings ratio of 8.8 based on the 12-month estimates of 25 analysts surveyed by FactSet.
Goldman Sachs shares rose after the bank swung to a profit in its first quarterly report under new CEO David Solomon.
Bank of America doubled its profit in the fourth quarter and beat analyst estimates.
BlackRock Inc., the largest U.S. money manager, reported its first drop in profit in two years as market turmoil in late 2018 hit investment-advisory fees and caused assets under management to drop below $6 trillion.
Among banks that reported earlier this week, Wells Fargo (WFC) managed to beat estimates in the latest quarter, but saw its shares fall Tuesday after CEO Tim Sloan said the financial giant will likely continue to operate under Federal Reserve sanctions through the end of the year.
Notwithstanding their immediate challenges, Real Money Pro columnist Doug Kass says banks are a "must own" for the long term and may be the most attractively valued industry group in the S&P index. Find out how you can read Doug's comments here.
Goldman Sachs Group and JPMorgan Chase are holdings in Jim Cramer's Action Alerts portfolio. Want to be alerted before Jim Cramer buys or sells GS or JPM? Learn more now.
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