Equities analysts expect KeyCorp (NYSE:KEY) to announce $1.60 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for KeyCorp’s earnings, with the highest sales estimate coming in at $1.62 billion and the lowest estimate coming in at $1.58 billion. KeyCorp posted sales of $1.63 billion during the same quarter last year, which suggests a negative year over year growth rate of 1.8%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, July 19th.
On average, analysts expect that KeyCorp will report full year sales of $6.48 billion for the current financial year, with estimates ranging from $6.44 billion to $6.53 billion. For the next fiscal year, analysts expect that the business will post sales of $6.79 billion per share, with estimates ranging from $6.68 billion to $6.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for KeyCorp.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the business posted $0.32 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis.
A number of brokerages recently commented on KEY. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, June 20th. Susquehanna Bancshares upgraded shares of KeyCorp from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $24.00 to $25.00 in a report on Tuesday, April 24th. Vining Sparks restated a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a report on Friday, April 6th. Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price objective on shares of KeyCorp in a report on Thursday, April 5th. Finally, Morgan Stanley raised their price objective on shares of KeyCorp from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, April 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.52.
Shares of NYSE:KEY traded down $0.11 during midday trading on Thursday, reaching $19.57. 7,045,000 shares of the company were exchanged, compared to its average volume of 9,664,896. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $22.40. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.22 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, May 29th were paid a $0.12 dividend. This is a positive change from KeyCorp’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Friday, May 25th. KeyCorp’s payout ratio is presently 35.29%.
In other KeyCorp news, insider Edward J. Burke sold 10,000 shares of KeyCorp stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $19.83, for a total value of $198,300.00. Following the sale, the insider now directly owns 126,526 shares in the company, valued at approximately $2,509,010.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new position in shares of KeyCorp during the 1st quarter worth about $114,000. First Personal Financial Services increased its stake in shares of KeyCorp by 139.7% during the 1st quarter. First Personal Financial Services now owns 5,894 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 3,435 shares during the last quarter. Adviser Investments LLC acquired a new position in shares of KeyCorp during the 1st quarter worth about $165,000. We Are One Seven LLC acquired a new position in shares of KeyCorp during the 4th quarter worth about $183,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of KeyCorp during the 1st quarter worth about $196,000. Institutional investors own 79.98% 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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