Equities analysts expect KeyCorp (NYSE:KEY) to announce $1.64 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for KeyCorp’s earnings, with estimates ranging from $1.63 billion to $1.66 billion. KeyCorp posted sales of $1.59 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The business is scheduled to issue its next earnings results before the market opens on Thursday, January 17th.
On average, analysts expect that KeyCorp will report full year sales of $6.41 billion for the current financial year, with estimates ranging from $6.38 billion to $6.44 billion. For the next fiscal year, analysts forecast that the firm will post sales of $6.61 billion, with estimates ranging from $6.47 billion to $6.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover KeyCorp.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis.
A number of research analysts have commented on KEY shares. ValuEngine cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 17th. UBS Group set a $23.00 target price on shares of KeyCorp and gave the company a “buy” rating in a research report on Monday, October 22nd. Mizuho upped their target price on shares of KeyCorp from $25.00 to $25.50 and gave the company an “overweight” rating in a research report on Tuesday, July 24th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a research report on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $23.39.
KEY traded up $0.12 on Friday, hitting $18.55. 358,239 shares of the company’s stock were exchanged, compared to its average volume of 15,888,883. KeyCorp has a fifty-two week low of $16.48 and a fifty-two week high of $22.40. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.01. The stock has a market cap of $19.39 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.68 and a beta of 1.00.
In related news, insider Douglas M. Schosser sold 6,048 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $21.49, for a total transaction of $129,971.52. Following the sale, the insider now directly owns 23,164 shares in the company, valued at $497,794.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Burke sold 46,360 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $21.32, for a total transaction of $988,395.20. Following the sale, the insider now owns 89,128 shares in the company, valued at $1,900,208.96. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in KEY. Fagan Associates Inc. increased its position in KeyCorp by 4.1% in the 2nd quarter. Fagan Associates Inc. now owns 66,049 shares of the financial services provider’s stock worth $1,291,000 after purchasing an additional 2,627 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of KeyCorp by 1.9% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 157,288 shares of the financial services provider’s stock worth $3,128,000 after acquiring an additional 2,885 shares in the last quarter. Amalgamated Bank boosted its stake in shares of KeyCorp by 2.3% during the 2nd quarter. Amalgamated Bank now owns 136,207 shares of the financial services provider’s stock worth $2,661,000 after acquiring an additional 3,031 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of KeyCorp by 33.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,652 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 3,395 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of KeyCorp by 8.5% during the 3rd quarter. Private Advisor Group LLC now owns 47,073 shares of the financial services provider’s stock worth $936,000 after acquiring an additional 3,694 shares in the last quarter. 80.19% of the stock is currently owned by institutional investors.
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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