KeyCorp (NYSE:KEY) – Equities researchers at Wedbush issued their FY2019 EPS estimates for KeyCorp in a research note issued to investors on Thursday, Zacks Investment Research reports. Wedbush analyst P. Winter forecasts that the financial services provider will earn $1.84 per share for the year.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter last year, the business posted $0.31 earnings per share.
A number of other brokerages have also weighed in on KEY. Deutsche Bank raised shares of KeyCorp from a “hold” rating to a “buy” rating and raised their price target for the company from $23.00 to $24.00 in a report on Thursday. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Vining Sparks reissued a “buy” rating and issued a $25.00 price target on shares of KeyCorp in a report on Thursday, January 18th. Sandler O’Neill reissued a “hold” rating and issued a $21.50 price target on shares of KeyCorp in a report on Friday, January 19th. Finally, DA Davidson raised their price target on shares of KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. KeyCorp currently has an average rating of “Buy” and a consensus price target of $22.07.
Shares of KeyCorp (NYSE:KEY) traded up $0.16 during trading on Friday, hitting $21.83. 8,321,726 shares of the company were exchanged, compared to its average volume of 9,040,000. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $23,480.00, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.62 and a beta of 1.09. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $21.88.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after purchasing an additional 4,230,390 shares in the last quarter. BlackRock Inc. boosted its position in shares of KeyCorp by 2.7% during the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after purchasing an additional 2,280,450 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of KeyCorp by 8.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after purchasing an additional 1,765,263 shares in the last quarter. Boston Partners bought a new position in shares of KeyCorp during the third quarter worth $356,111,000. Finally, Northern Trust Corp boosted its position in shares of KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after purchasing an additional 231,558 shares in the last quarter. 81.00% of the stock is currently owned by institutional investors.
In other news, Director Elizabeth R. Gile purchased 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The shares were bought at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Craig A. Buffie sold 11,819 shares of KeyCorp stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares in the company, valued at $1,098,487.11. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be paid a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 1.92%. KeyCorp’s payout ratio is presently 37.50%.
WARNING: “KeyCorp (NYSE:KEY) to Post FY2019 Earnings of $1.84 Per Share, Wedbush Forecasts” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/28/keycorp-forecasted-to-post-fy2019-earnings-of-1-84-per-share-key.html.
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.
Get a free copy of the Zacks research report on KeyCorp (KEY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.