KeyCorp Forecasted to Post Q1 2018 Earnings of $0.40 Per Share (KEY)

KeyCorp (NYSE:KEY) – Equities research analysts at B. Riley raised their Q1 2018 earnings per share (EPS) estimates for KeyCorp in a research note issued to investors on Thursday. B. Riley analyst S. Moss now anticipates that the financial services provider will post earnings of $0.40 per share for the quarter, up from their prior forecast of $0.36. B. Riley also issued estimates for KeyCorp’s Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.70 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.48 EPS and FY2019 earnings at $1.80 EPS.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share.

Other equities research analysts also recently issued research reports about the company. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Thursday, December 14th. CIBC restated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Oppenheimer restated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Sanford C. Bernstein restated an “outperform” rating and set a $22.00 target price on shares of KeyCorp in a research report on Wednesday, September 27th. Finally, Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.56.

Shares of KeyCorp (KEY) opened at $21.42 on Friday. The firm has a market capitalization of $23,040.00, a price-to-earnings ratio of 18.63, a PEG ratio of 1.62 and a beta of 1.09. KeyCorp has a 52-week low of $16.28 and a 52-week high of $21.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.

A number of large investors have recently bought and sold shares of KEY. Zions Bancorporation grew its stake in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in KeyCorp in the third quarter valued at about $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in KeyCorp in the third quarter valued at about $145,000. Sun Life Financial INC grew its stake in KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 8,037 shares during the period. Finally, AllSquare Wealth Management LLC acquired a new position in KeyCorp in the third quarter valued at about $173,000. 80.91% of the stock is owned by hedge funds and other institutional investors.

In related news, General Counsel Paul N. Harris sold 2,758 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total value of $51,133.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Insiders sold 57,212 shares of company stock valued at $1,060,508 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.96%. KeyCorp’s dividend payout ratio is presently 36.52%.

ILLEGAL ACTIVITY WARNING: This news story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://ledgergazette.com/2018/01/14/keycorp-forecasted-to-post-q1-2018-earnings-of-0-40-per-share-key.html.

About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Earnings History and Estimates for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply