Equities analysts predict that KeyCorp (NYSE:KEY) will announce sales of $1.59 billion for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for KeyCorp’s earnings. The highest sales estimate is $1.60 billion and the lowest is $1.57 billion. KeyCorp reported sales of $1.56 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 1.9%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, January 18th.
On average, analysts expect that KeyCorp will report full-year sales of $1.59 billion for the current year, with estimates ranging from $6.18 billion to $6.30 billion. For the next year, analysts expect that the business will report sales of $6.48 billion per share, with estimates ranging from $6.35 billion to $6.57 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover KeyCorp.
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, hitting the Zacks’ consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. KeyCorp’s quarterly revenue was up 13.7% on a year-over-year basis.
A number of brokerages recently weighed in on KEY. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective on the stock in a report on Thursday, December 14th. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a report on Friday, October 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $22.00 price objective on shares of KeyCorp in a report on Wednesday, September 27th. Finally, Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. KeyCorp has an average rating of “Buy” and an average target price of $21.28.
In other news, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the transaction, the director now directly owns 68,725 shares in the company, valued at approximately $1,263,852.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the transaction, the insider now owns 110,052 shares in the company, valued at $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold 57,212 shares of company stock worth $1,060,508 over the last quarter. 0.65% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of KeyCorp by 8.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock valued at $448,990,000 after buying an additional 1,765,263 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of KeyCorp in the third quarter valued at about $447,000. GSA Capital Partners LLP grew its stake in shares of KeyCorp by 21.1% in the third quarter. GSA Capital Partners LLP now owns 51,286 shares of the financial services provider’s stock valued at $965,000 after buying an additional 8,937 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of KeyCorp by 2.5% in the third quarter. California Public Employees Retirement System now owns 2,992,221 shares of the financial services provider’s stock valued at $56,314,000 after buying an additional 74,117 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of KeyCorp by 24.0% in the third quarter. Janney Montgomery Scott LLC now owns 93,963 shares of the financial services provider’s stock valued at $1,768,000 after buying an additional 18,181 shares in the last quarter. Institutional investors own 80.91% of the company’s stock.
KeyCorp (KEY) opened at $20.43 on Friday. KeyCorp has a twelve month low of $16.28 and a twelve month high of $20.52. The firm has a market capitalization of $21,637.05, a price-to-earnings ratio of 15.24, a P/E/G ratio of 1.83 and a beta of 1.10. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were given a dividend of $0.105 per share. The ex-dividend date of this dividend was Monday, November 27th. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 2.06%. KeyCorp’s dividend payout ratio is 36.84%.
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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.
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