Brokerages forecast KeyCorp (NYSE: KEY) to post earnings of $ 0.56 per share for the current fiscal quarter, reports Zacks Investment Research. Four analysts have released estimates for KeyCorp’s earnings, with the highest EPS estimate at $ 0.59 and the lowest estimate at $ 0.53. KeyCorp also reported earnings of $ 0.56 per share for the same quarter last year. The company is expected to release its next quarterly earnings report before the market opens on Thursday, January 20.
On average, analysts predict that KeyCorp will report annual earnings of $ 2.54 per share for the current fiscal year, with EPS estimates ranging from $ 2.51 to $ 2.57. For next year, analysts predict the company will post earnings of $ 2.04 per share, with EPS estimates ranging from $ 1.93 to $ 2.11. Zacks earnings per share averages are an average based on a survey of seller-side research companies that cover KeyCorp.
KeyCorp (NYSE: KEY) last reported its results on Thursday, October 21. The financial services provider reported earnings per share (EPS) of $ 0.65 for the quarter, beating the consensus estimate of $ 0.57 by $ 0.08. KeyCorp had a return on equity of 15.47% and a net margin of 33.07%. The company posted revenue of $ 1.82 billion for the quarter, compared to analysts’ expectations of $ 1.74 billion. In the same quarter of last year, the company achieved EPS of $ 0.41. The company’s revenue for the quarter increased 8.0% year-over-year.
A number of stock analysts have recently published reports on KEY stocks. Wells Fargo & Company downgraded KeyCorp to an “equal weight” rating and set a target price of $ 29.00 for the company. in a research note on Thursday, December 16. Wedbush raised its target price on KeyCorp from $ 27.00 to $ 29.00 and rated the stock as “outperforming” in a Friday October 22nd research note. Bank of America Downgraded KeyCorp from an “Underperformance” to a “Buy” Rating and Raised its Target Price for the Share from $ 25.00 to $ 27.00 in a Research Note Wednesday, December 15. Morgan Stanley raised its target price on KeyCorp from $ 26.00 to $ 30.00 and gave the stock an “equal weight” rating in a research note on Monday, December 6. Finally, Barclays raised its target price on KeyCorp from $ 24.00 to $ 26.00 in a research note on Monday, January 3. Seven research analysts rated the stock with a conservation rating and seven gave the company’s stock a buy rating. According to data from MarketBeat.com, KeyCorp has an average rating of “Buy†and an average price target of $ 26.24.
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KEY shares opened at $ 26.35 on Friday. KeyCorp has a 12-month low of $ 16.69 and a 12-month high of $ 26.45. The stock has a fifty-day moving average price of $ 23.42 and a 200-day moving average price of $ 21.78. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt ratio of 0.84. The company has a market cap of $ 24.53 billion, a PE ratio of 10.29, a P / E / G ratio of 0.82, and a beta of 1.47.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15. Shareholders of record on Tuesday, November 30, received a dividend of $ 0.195. This represents a dividend of $ 0.78 on an annualized basis and a return of 2.96%. This is a positive change from KeyCorp’s previous quarterly dividend of $ 0.19. The ex-dividend date was Monday, November 29. KeyCorp’s dividend payout ratio (DPR) is 30.47%.
Separately, insider Kenneth C. Gavrity sold 10,981 KeyCorp shares in a trade that took place on Thursday, October 28. The shares were sold at an average price of $ 23.36, for a total trade of $ 256,516.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In addition, insider Amy G. Brady sold 66,549 KeyCorp shares in a trade that took place on Friday, October 22. The shares were sold at an average price of $ 24.18, for a total trade of $ 1,609,154.82. Disclosure of this sale can be found here. Insiders have sold a total of 98,672 shares of the company valued at $ 2,361,619 in the past three months. Company insiders own 0.56% of the company’s shares.
A number of hedge funds and other institutional investors have recently changed their positions in KEY. American Century Companies Inc. increased its position in KeyCorp by 25.4% in the second quarter. American Century Companies Inc. now owns 69,176 shares of the financial services provider valued at $ 1,428,000 after purchasing an additional 14,014 shares during the period. Sei Investments Co. increased its stake in KeyCorp shares by 47.0% in the second quarter. Sei Investments Co. now owns 112,664 shares of the financial services provider valued at $ 2,352,000 after acquiring an additional 36,030 shares in the last quarter. Parallel Advisors LLC increased its stake in KeyCorp shares by 54.6% in the second quarter. Parallel Advisors LLC now owns 4,180 shares of the financial services provider valued at $ 86,000 after acquiring an additional 1,477 shares in the last quarter. Commerce Bank increased its stake in KeyCorp shares by 30.5% in the second quarter. Commerce Bank now owns 82,069 shares of the financial services provider valued at $ 1,695,000 after acquiring an additional 19,164 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its stake in KeyCorp shares by 8.8% in the second quarter. Belpointe Asset Management LLC now owns 11,852 shares of the financial services provider valued at $ 245,000 after acquiring 958 additional shares in the last quarter. 80.45% of the shares are currently held by institutional investors.
About KeyCorp
KeyCorp operates as a bank holding company, which engages in the provision of financial services. it offers a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage and special services, as well as products and services investment banking for individuals, businesses and institutional clients.
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