Analysts expect KeyCorp (NYSE:KEY) to post $1.56 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for KeyCorp’s earnings. The highest sales estimate is $1.59 billion and the lowest is $1.54 billion. KeyCorp posted sales of $1.50 billion during the same quarter last year, which suggests a positive year over year growth rate of 4%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, April 19th.
According to Zacks, 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 expect that the firm will report 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 research firms that cover KeyCorp.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company posted $0.31 earnings per share.
A number of equities analysts recently issued reports on the company. Deutsche Bank raised KeyCorp from a “hold” rating to a “buy” rating and raised their price target for the stock from $23.00 to $24.00 in a report on Thursday, January 25th. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Sandler O’Neill reissued a “hold” rating and set a $21.50 price target on shares of KeyCorp in a report on Friday, January 19th. DA Davidson raised their price target on KeyCorp to $26.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, Vining Sparks reissued a “buy” rating and set a $25.00 price target on shares of KeyCorp in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $22.14.
In other news, insider Robert A. Deangelis sold 25,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total transaction of $527,750.00. Following the completion of the sale, the insider now directly owns 175,053 shares in the company, valued at approximately $3,695,368.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of KeyCorp stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total transaction of $250,680.99. Following the sale, the insider now owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,857 shares of company stock valued at $1,953,548. Insiders own 0.65% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its position in shares of KeyCorp by 2.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock worth $67,299,000 after purchasing an additional 71,018 shares during the last quarter. New England Research & Management Inc. raised its position in shares of KeyCorp by 12.8% during the 4th quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 5,750 shares during the last quarter. M&T Bank Corp raised its position in shares of KeyCorp by 5.6% during the 4th quarter. M&T Bank Corp now owns 86,925 shares of the financial services provider’s stock worth $1,754,000 after purchasing an additional 4,576 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of KeyCorp during the 3rd quarter worth approximately $268,000. Finally, Janney Montgomery Scott LLC raised its position in shares of KeyCorp by 24.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 93,963 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 18,181 shares during the last quarter. Institutional investors own 81.70% of the company’s stock.
Shares of NYSE KEY traded down $0.65 during midday trading on Tuesday, reaching $19.09. 10,310,332 shares of the company were exchanged, compared to its average volume of 9,534,750. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. KeyCorp has a 1 year low of $16.28 and a 1 year high of $22.40. The firm has a market cap of $20,248.52, a P/E ratio of 14.04, a P/E/G ratio of 1.20 and a beta of 1.04.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.105 per share. The ex-dividend date was Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.20%. KeyCorp’s payout ratio is 30.88%.
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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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