KeyCorp (NYSE:KEY) – Equities researchers at Piper Sandler lowered their Q1 2020 earnings estimates for shares of KeyCorp in a report issued on Tuesday, March 24th. Piper Sandler analyst R. Siefers now anticipates that the financial services provider will post earnings per share of $0.39 for the quarter, down from their previous estimate of $0.44. Piper Sandler also issued estimates for KeyCorp’s Q2 2020 earnings at $0.33 EPS, Q3 2020 earnings at $0.34 EPS, Q4 2020 earnings at $0.41 EPS, Q1 2021 earnings at $0.40 EPS, Q2 2021 earnings at $0.40 EPS, Q3 2021 earnings at $0.41 EPS, Q4 2021 earnings at $0.42 EPS and FY2021 earnings at $1.64 EPS.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. KeyCorp had a return on equity of 12.54% and a net margin of 22.06%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $0.48 EPS. KeyCorp’s quarterly revenue was down .9% compared to the same quarter last year.
Several other analysts also recently commented on KEY. Wells Fargo & Co reiterated a “sell” rating on shares of KeyCorp in a report on Friday, March 6th. DA Davidson cut shares of KeyCorp from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a report on Monday. ValuEngine downgraded shares of KeyCorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 6th. Barclays reiterated a “sell” rating and issued a $23.00 price objective on shares of KeyCorp in a research note on Tuesday, January 7th. Finally, Wedbush cut shares of KeyCorp from an “outperform” rating to a “neutral” rating in a research report on Monday, March 2nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $24.30.
KEY opened at $11.46 on Thursday. KeyCorp has a 1 year low of $7.45 and a 1 year high of $20.52. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 7.07, a P/E/G ratio of 0.93 and a beta of 1.33. The firm’s fifty day moving average price is $15.71 and its two-hundred day moving average price is $18.07.
The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend was Monday, March 2nd. KeyCorp’s dividend payout ratio is currently 41.11%.
Several institutional investors have recently added to or reduced their stakes in the company. Howard Wealth Management LLC bought a new position in KeyCorp during the fourth quarter valued at $26,000. Procyon Private Wealth Partners LLC bought a new stake in shares of KeyCorp in the fourth quarter valued at $27,000. Lionsbridge Wealth Management LLC bought a new stake in shares of KeyCorp in the fourth quarter valued at $28,000. Archer Investment Corp purchased a new position in shares of KeyCorp during the 4th quarter valued at $30,000. Finally, Thor Advisors LLC purchased a new stake in KeyCorp during the third quarter valued at about $34,000. 81.70% of the stock is owned by hedge funds and other institutional investors.
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.
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