Equities research analysts forecast that KeyCorp (NYSE:KEY) will post earnings per share (EPS) of $0.35 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for KeyCorp’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.38. KeyCorp posted earnings per share of $0.30 in the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that KeyCorp will report full-year earnings of $1.39 per share for the current fiscal year, with EPS estimates ranging from $1.36 to $1.46. For the next financial year, analysts forecast that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.41 to $1.60. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow KeyCorp.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $0.27 EPS. The company’s revenue was up 52.1% on a year-over-year basis.
A number of research firms have recently issued reports on KEY. Keefe, Bruyette & Woods upgraded shares of KeyCorp from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Monday, July 10th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, July 11th. Instinet restated a “buy” rating and set a $23.00 target price on shares of KeyCorp in a report on Wednesday, July 12th. UBS AG upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $22.00 in a report on Monday, July 10th. Finally, Jefferies Group LLC restated a “buy” rating and set a $21.00 target price on shares of KeyCorp in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.74.
Shares of KeyCorp (NYSE KEY) traded down 1.08% on Friday, hitting $17.43. 4,429,705 shares of the stock were exchanged. The firm’s 50-day moving average is $18.52 and its 200-day moving average is $18.27. The company has a market cap of $18.96 billion, a P/E ratio of 17.31 and a beta of 1.11. KeyCorp has a one year low of $11.89 and a one year high of $19.53.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be given a $0.095 dividend. The ex-dividend date is Friday, August 25th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.16%. KeyCorp’s payout ratio is presently 38.78%.
KeyCorp announced that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In other KeyCorp news, Director Bruce D. Broussard bought 2,500 shares of KeyCorp stock in a transaction dated Wednesday, July 26th. The stock was bought at an average price of $18.17 per share, with a total value of $45,425.00. Following the completion of the transaction, the director now owns 12,500 shares in the company, valued at approximately $227,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ruth Ann M. Gillis bought 3,000 shares of KeyCorp stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average cost of $18.00 per share, with a total value of $54,000.00. Following the transaction, the director now owns 10,551 shares of the company’s stock, valued at approximately $189,918. The disclosure for this purchase can be found here. In the last three months, insiders bought 14,000 shares of company stock valued at $254,720 and sold 259,409 shares valued at $4,794,449. Insiders own 0.65% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Focused Wealth Management Inc boosted its stake in shares of KeyCorp by 613.0% in the first quarter. Focused Wealth Management Inc now owns 5,961 shares of the financial services provider’s stock worth $106,000 after buying an additional 5,125 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of KeyCorp by 20.2% in the first quarter. Thompson Davis & CO. Inc. now owns 6,699 shares of the financial services provider’s stock worth $119,000 after buying an additional 1,125 shares during the last quarter. Cypress Capital Management LLC WY boosted its stake in shares of KeyCorp by 177.9% in the second quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,500 shares during the last quarter. CI Investments Inc. acquired a new stake in shares of KeyCorp during the first quarter worth about $160,000. Finally, Equity Investment Corp Acquisition Inc acquired a new stake in shares of KeyCorp during the first quarter worth about $179,000. 81.27% of the stock is owned by institutional investors.
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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