KeyCorp (NYSE:KEY) – Equities researchers at Piper Jaffray lifted their Q3 2018 earnings per share estimates for shares of KeyCorp in a research note issued to investors on Thursday, April 19th. Piper Jaffray analyst K. Barker now anticipates that the financial services provider will post earnings per share of $0.44 for the quarter, up from their previous estimate of $0.42. Piper Jaffray also issued estimates for KeyCorp’s Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.66 EPS, Q1 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.47 EPS, Q4 2019 earnings at $0.50 EPS and FY2019 earnings at $1.77 EPS.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS.
Several other analysts have also recently issued reports on the company. Morgan Stanley upped their price objective on KeyCorp from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday. Susquehanna Bancshares upgraded KeyCorp from a “neutral” rating to a “positive” rating and increased their price target for the company from $24.00 to $25.00 in a report on Tuesday. UBS upgraded KeyCorp from a “neutral” rating to a “positive” rating in a report on Tuesday. BMO Capital Markets decreased their price target on KeyCorp from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. Finally, Vining Sparks restated a “buy” rating and set a $25.00 price target on shares of KeyCorp in a report on Friday, April 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $22.45.
Shares of KEY opened at $20.07 on Monday. The company has a market cap of $21,065.24, a PE ratio of 14.76, a PEG ratio of 1.24 and a beta of 1.04. KeyCorp has a 1 year low of $16.28 and a 1 year high of $22.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.87 and a current ratio of 0.89.
In related news, insider Robert A. Deangelis sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $21.11, for a total transaction of $527,750.00. Following the sale, the insider now owns 175,053 shares of the company’s stock, valued at $3,695,368.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were 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. 0.67% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Mycio Wealth Partners LLC boosted its position in KeyCorp by 17.1% during the fourth quarter. Mycio Wealth Partners LLC now owns 17,116 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 2,500 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in KeyCorp by 2.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 104,487 shares of the financial services provider’s stock valued at $2,108,000 after purchasing an additional 2,600 shares in the last quarter. MML Investors Services LLC boosted its position in KeyCorp by 17.3% during the fourth quarter. MML Investors Services LLC now owns 18,561 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 2,744 shares in the last quarter. Dividend Assets Capital LLC boosted its position in KeyCorp by 11.7% during the fourth quarter. Dividend Assets Capital LLC now owns 27,335 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 2,860 shares in the last quarter. Finally, Mcmillion Capital Management Inc. boosted its position in KeyCorp by 2.0% during the fourth quarter. Mcmillion Capital Management Inc. now owns 162,591 shares of the financial services provider’s stock valued at $3,279,000 after purchasing an additional 3,120 shares in the last quarter. 81.88% of the stock is currently owned by institutional investors.
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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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