Brokerages expect KeyCorp (NYSE:KEY) to announce earnings per share of $0.41 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for KeyCorp’s earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.40. KeyCorp reported earnings per share of $0.34 in the same quarter last year, which suggests a positive year-over-year growth rate of 20.6%. The business is scheduled to announce its next earnings report before the market opens on Thursday, July 19th.
On average, analysts expect that KeyCorp will report full year earnings of $1.70 per share for the current year, with EPS estimates ranging from $1.65 to $1.75. For the next year, analysts expect that the business will post earnings of $1.87 per share, with EPS estimates ranging from $1.77 to $2.00. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover KeyCorp.
KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS.
KEY has been the topic of a number of recent analyst reports. Vining Sparks reissued a “buy” rating and set a $25.00 target price on shares of KeyCorp in a report on Friday, April 6th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $23.00 target price on shares of KeyCorp in a report on Thursday, April 5th. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. ValuEngine downgraded KeyCorp from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, BMO Capital Markets reduced their price target on KeyCorp from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, April 20th. 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 company. KeyCorp presently has an average rating of “Buy” and a consensus target price of $22.45.
KeyCorp opened at $20.64 on Friday, MarketBeat.com reports. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.99. The company has a market cap of $21.83 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.40.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from KeyCorp’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, May 25th. KeyCorp’s dividend payout ratio is presently 35.29%.
In other news, insider Edward J. Burke sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $19.83, for a total transaction of $198,300.00. Following the completion of the sale, the insider now directly owns 126,526 shares in the company, valued at approximately $2,509,010.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Altium Wealth Management LLC bought a new stake in shares of KeyCorp during the 1st quarter valued at $201,000. Suntrust Banks Inc. lifted its position in shares of KeyCorp by 23.2% during the 1st quarter. Suntrust Banks Inc. now owns 30,597 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 5,770 shares during the period. CIBC World Markets Inc. lifted its position in shares of KeyCorp by 1,171.7% during the 1st quarter. CIBC World Markets Inc. now owns 141,507 shares of the financial services provider’s stock valued at $2,766,000 after acquiring an additional 130,380 shares during the period. Xact Kapitalforvaltning AB lifted its position in shares of KeyCorp by 4.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 251,553 shares of the financial services provider’s stock valued at $4,918,000 after acquiring an additional 10,854 shares during the period. Finally, Private Capital Group LLC lifted its position in shares of KeyCorp by 60,752.6% during the 1st quarter. Private Capital Group LLC now owns 11,562 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 11,543 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.
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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