KeyCorp (KEY) to Post FY2018 Earnings of $1.65 Per Share, Jefferies Group Forecasts

KeyCorp (NYSE:KEY) – Equities research analysts at Jefferies Group boosted their FY2018 earnings per share (EPS) estimates for shares of KeyCorp in a research report issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $1.65 for the year, up from their prior estimate of $1.45. Jefferies Group also issued estimates for KeyCorp’s FY2019 earnings at $1.80 EPS.

A number of other equities analysts have also recently commented on KEY. Sanford C. Bernstein reissued an “outperform” rating and set a $22.00 price target on shares of KeyCorp in a report on Wednesday, September 27th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Citigroup boosted their price target on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 9th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 price target on shares of KeyCorp in a report on Thursday, October 19th. Finally, Oppenheimer reissued a “hold” rating on shares of KeyCorp in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $21.56.

KeyCorp (KEY) traded up $0.23 during trading on Wednesday, hitting $21.42. The stock had a trading volume of 10,075,339 shares, compared to its average volume of 8,345,305. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. KeyCorp has a 12 month low of $16.28 and a 12 month high of $21.47. The firm has a market cap of $23,040.00, a PE ratio of 18.63, a P/E/G ratio of 1.65 and a beta of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.96%. KeyCorp’s dividend payout ratio is currently 36.52%.

In other news, Director Elizabeth R. Gile acquired 1,374 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew J. Paine III sold 46,854 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock worth $1,060,508 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Zions Bancorporation grew its position in shares of KeyCorp by 2,277.5% in the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock valued at $107,000 after buying an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in shares of KeyCorp in the 3rd quarter valued at about $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of KeyCorp in the 3rd quarter valued at about $145,000. Sun Life Financial INC grew its position in shares of KeyCorp by 80,370.0% in the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock valued at $151,000 after buying an additional 8,037 shares during the last quarter. Finally, AllSquare Wealth Management LLC bought a new stake in shares of KeyCorp in the 3rd quarter valued at about $173,000. Institutional investors and hedge funds own 80.91% of the company’s stock.

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About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Earnings History and Estimates for KeyCorp (NYSE:KEY)

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