Brokerages Expect KeyCorp (NYSE:KEY) to Announce $0.57 Earnings Per Share

Wall Street brokerages predict that KeyCorp (NYSE:KEY) will report earnings per share (EPS) of $0.57 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for KeyCorp’s earnings, with estimates ranging from $0.54 to $0.59. KeyCorp posted earnings per share of $0.56 during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.8%. The company is scheduled to issue its next earnings results before the market opens on Thursday, January 20th.

According to Zacks, analysts expect that KeyCorp will report full year earnings of $2.55 per share for the current year, with EPS estimates ranging from $2.52 to $2.57. For the next year, analysts expect that the company will post earnings of $2.05 per share, with EPS estimates ranging from $1.93 to $2.14. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow KeyCorp.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 21st. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.74 billion. KeyCorp had a net margin of 33.07% and a return on equity of 15.47%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share.

A number of research firms have commented on KEY. UBS Group started coverage on shares of KeyCorp in a report on Wednesday. They issued a “buy” rating and a $32.00 price objective for the company. Odeon Capital Group upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, January 7th. Stephens boosted their price target on shares of KeyCorp from $21.50 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, October 22nd. Wells Fargo & Company cut shares of KeyCorp to an “equal weight” rating and set a $29.00 price target on the stock. in a research report on Thursday, December 16th. Finally, Royal Bank of Canada dropped their price target on KeyCorp from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, November 4th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $26.63.

Shares of KEY stock traded up $0.31 during mid-day trading on Friday, reaching $27.01. 623,640 shares of the company were exchanged, compared to its average volume of 7,413,478. KeyCorp has a fifty-two week low of $16.69 and a fifty-two week high of $26.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.81 and a current ratio of 0.83. The company has a market capitalization of $25.15 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.79 and a beta of 1.47. The business’s 50 day simple moving average is $23.65 and its 200 day simple moving average is $21.94.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.89%. KeyCorp’s dividend payout ratio is currently 30.47%.

In other news, insider Kenneth C. Gavrity sold 10,981 shares of KeyCorp stock in a transaction that occurred on Thursday, October 28th. The stock was sold at an average price of $23.36, for a total transaction of $256,516.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian L. Fishel sold 11,841 shares of KeyCorp stock in a transaction that occurred on Monday, December 6th. The stock was sold at an average price of $23.26, for a total value of $275,421.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,672 shares of company stock worth $2,361,619. 0.56% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of KEY. Strategic Asset Management LLC bought a new stake in KeyCorp during the 3rd quarter worth $27,000. Kings Point Capital Management bought a new stake in KeyCorp during the 3rd quarter worth $27,000. Jones Financial Companies Lllp bought a new stake in KeyCorp during the 3rd quarter worth $28,000. South State Corp bought a new stake in KeyCorp during the 2nd quarter worth $29,000. Finally, Lloyd Advisory Services LLC. grew its position in KeyCorp by 103.2% during the 3rd quarter. Lloyd Advisory Services LLC. now owns 1,376 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 699 shares during the last quarter. Institutional investors own 82.65% of the company’s stock.

About KeyCorp

KeyCorp operates as bank holding company, which engages in the provision of financial services. it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

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