Equities analysts forecast that KeyCorp (NYSE:KEY) will post $0.47 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for KeyCorp’s earnings, with estimates ranging from $0.44 to $0.51. KeyCorp posted earnings of $0.33 per share during the same quarter last year, which suggests a positive year over year growth rate of 42.4%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, January 17th.
On average, analysts expect that KeyCorp will report full year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.71 to $1.76. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.91 per share, with EPS estimates ranging from $1.83 to $2.01. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover KeyCorp.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business posted $0.32 earnings per share. KeyCorp’s revenue was up 3.1% compared to the same quarter last year.
Several equities research analysts recently issued reports on the company. UBS Group set a $23.00 price objective on KeyCorp and gave the stock a “buy” rating in a research note on Monday, October 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $23.00 price objective on shares of KeyCorp in a research note on Monday, October 22nd. Piper Jaffray Companies reissued a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a research note on Monday, October 22nd. BMO Capital Markets reduced their price objective on KeyCorp from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Finally, Nomura reduced their price objective on KeyCorp from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.39.
KeyCorp stock traded up $0.12 during mid-day trading on Wednesday, hitting $18.55. The company’s stock had a trading volume of 358,239 shares, compared to its average volume of 15,888,883. The company has a market cap of $19.39 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.68 and a beta of 1.00. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01. KeyCorp has a 52-week low of $16.48 and a 52-week high of $22.40.
In other news, insider Douglas M. Schosser sold 6,048 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $21.49, for a total transaction of $129,971.52. Following the transaction, the insider now owns 23,164 shares of the company’s stock, valued at approximately $497,794.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Burke sold 46,360 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $21.32, for a total value of $988,395.20. Following the transaction, the insider now directly owns 89,128 shares in the company, valued at approximately $1,900,208.96. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of KeyCorp during the 3rd quarter valued at about $1,717,000. Gulf International Bank UK Ltd grew its holdings in KeyCorp by 13.1% in the 3rd quarter. Gulf International Bank UK Ltd now owns 374,589 shares of the financial services provider’s stock valued at $7,450,000 after buying an additional 43,500 shares during the last quarter. American Century Companies Inc. grew its holdings in KeyCorp by 27.2% in the 3rd quarter. American Century Companies Inc. now owns 39,096 shares of the financial services provider’s stock valued at $778,000 after buying an additional 8,356 shares during the last quarter. Bank of The West grew its holdings in KeyCorp by 13.4% in the 3rd quarter. Bank of The West now owns 114,160 shares of the financial services provider’s stock valued at $2,271,000 after buying an additional 13,502 shares during the last quarter. Finally, Cadence Capital Management LLC grew its holdings in KeyCorp by 21.1% in the 3rd quarter. Cadence Capital Management LLC now owns 160,651 shares of the financial services provider’s stock valued at $3,195,000 after buying an additional 27,941 shares during the last quarter. 80.19% of the stock is currently owned by institutional investors and hedge funds.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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