Wall Street brokerages forecast that KeyCorp (NYSE:KEY) will report $1.56 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for KeyCorp’s earnings, with the highest sales estimate coming in at $1.59 billion and the lowest estimate coming in at $1.54 billion. KeyCorp posted sales of $1.50 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4%. The company is expected to report its next earnings results on Thursday, April 19th.
On average, analysts expect that KeyCorp will report full year sales of $1.56 billion for the current year, with estimates ranging from $6.36 billion to $6.54 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.71 billion per share, with estimates ranging from $6.57 billion to $6.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover KeyCorp.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business posted $0.31 EPS.
Several brokerages have recently commented on KEY. CIBC reiterated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective for the company in a report on Thursday, December 14th. Vining Sparks reiterated a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a report on Thursday, January 18th. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, December 26th. Finally, Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $22.07.
Shares of KeyCorp (NYSE KEY) traded up $0.07 on Friday, hitting $21.02. The stock had a trading volume of 6,801,618 shares, compared to its average volume of 10,800,000. KeyCorp has a 12-month low of $16.28 and a 12-month high of $22.22. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $22,600.00, a price-to-earnings ratio of 16.68, a PEG ratio of 1.33 and a beta of 1.04.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, February 26th. KeyCorp’s payout ratio is 33.33%.
In related news, insider Craig A. Buffie sold 11,819 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher M. Gorman sold 56,038 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.97, for a total value of $1,175,116.86. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in KEY. Zions Bancorporation grew its position in KeyCorp by 2,277.5% during the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. acquired a new stake in KeyCorp during the 3rd quarter worth about $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in KeyCorp during the 3rd quarter worth about $145,000. AllSquare Wealth Management LLC acquired a new stake in KeyCorp during the 3rd quarter worth about $173,000. Finally, We Are One Seven LLC acquired a new stake in KeyCorp during the 4th quarter worth about $183,000. 82.19% of the stock is currently owned by institutional investors.
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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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