Equities analysts forecast that KeyCorp (NYSE:KEY) will announce sales of $1.56 billion for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for KeyCorp’s earnings. The lowest sales estimate is $1.54 billion and the highest is $1.59 billion. KeyCorp posted sales of $1.50 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4%. The business is expected to announce its next earnings report before the market opens on Thursday, April 19th.
According to Zacks, analysts expect that KeyCorp will report full year sales of $1.56 billion for the current fiscal year, with estimates ranging from $6.36 billion to $6.54 billion. For the next year, analysts forecast that the business will post sales of $6.71 billion per share, with estimates ranging from $6.57 billion to $6.86 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow KeyCorp.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter in the prior year, the firm posted $0.31 EPS.
A number of brokerages recently issued reports on KEY. Barclays increased their target price on shares of KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. CIBC reiterated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Stephens upgraded shares of 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. DA Davidson increased their target price on shares of KeyCorp to $26.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.50 target price on shares of KeyCorp in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $22.07.
In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the transaction, the insider now directly owns 51,791 shares in the company, valued at $1,098,487.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.97, for a total transaction of $1,175,116.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,857 shares of company stock valued at $1,953,548. Corporate insiders own 0.65% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Mycio Wealth Partners LLC boosted its holdings in shares of KeyCorp by 17.1% in the fourth quarter. Mycio Wealth Partners LLC now owns 17,116 shares of the financial services provider’s stock worth $345,000 after buying an additional 2,500 shares during the period. New Mexico Educational Retirement Board boosted its holdings in shares of KeyCorp by 2.6% in the fourth quarter. New Mexico Educational Retirement Board now owns 104,487 shares of the financial services provider’s stock worth $2,108,000 after buying an additional 2,600 shares during the period. MML Investors Services LLC boosted its holdings in shares of KeyCorp by 17.3% in the fourth quarter. MML Investors Services LLC now owns 18,561 shares of the financial services provider’s stock worth $374,000 after buying an additional 2,744 shares during the period. Dividend Assets Capital LLC boosted its holdings in shares of KeyCorp by 11.7% in the fourth quarter. Dividend Assets Capital LLC now owns 27,335 shares of the financial services provider’s stock worth $551,000 after buying an additional 2,860 shares during the period. Finally, Mcmillion Capital Management Inc. boosted its holdings in shares of KeyCorp by 2.0% in the fourth quarter. Mcmillion Capital Management Inc. now owns 162,591 shares of the financial services provider’s stock worth $3,279,000 after buying an additional 3,120 shares during the period. Institutional investors own 81.68% of the company’s stock.
Shares of KeyCorp stock traded up $0.04 on Friday, reaching $20.97. 6,680,663 shares of the company were exchanged, compared to its average volume of 10,231,361. The company has a market cap of $22,189.57, a price-to-earnings ratio of 18.72, a PEG ratio of 1.32 and a beta of 1.01. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. KeyCorp has a 12-month low of $16.28 and a 12-month high of $22.40.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, February 26th. KeyCorp’s payout ratio is 37.50%.
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KeyCorp Company Profile
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.
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