Brokers Offer Predictions for KeyCorp’s FY2018 Earnings (KEY)
KeyCorp (NYSE:KEY) – Equities researchers at Jefferies Group upped their FY2018 earnings estimates for shares of KeyCorp in a research note issued to investors on Monday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $1.65 per share for the year, up from their previous estimate of $1.45. Jefferies Group also issued estimates for KeyCorp’s FY2019 earnings at $1.80 EPS.
Several other brokerages have also recently weighed in on KEY. Sanford C. Bernstein reiterated an “outperform” rating and set a $22.00 price target on shares of KeyCorp in a research note on Wednesday, September 27th. Morgan Stanley reiterated an “overweight” rating and set a $23.00 price target on shares of KeyCorp in a research note on Thursday, December 14th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a research note on Friday, October 20th. Finally, Zacks Investment Research cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $21.56.
Shares of KeyCorp (NYSE KEY) traded up $0.18 during trading on Wednesday, hitting $21.19. 6,492,493 shares of the stock traded hands, compared to its average volume of 8,128,979. The stock has a market cap of $22,790.00, a PE ratio of 18.43, a PEG ratio of 1.65 and a beta of 1.09. KeyCorp has a 1-year low of $16.28 and a 1-year high of $21.28. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders 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 1.98%. KeyCorp’s dividend payout ratio is currently 36.52%.
In other KeyCorp news, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now directly owns 110,052 shares in the company, valued at approximately $2,042,565.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth R. Gile purchased 1,374 shares of KeyCorp stock in a transaction on Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation increased its holdings in shares of KeyCorp by 2,277.5% in the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after buying an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in shares of KeyCorp in the 3rd quarter worth about $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of KeyCorp in the 3rd quarter worth about $145,000. Sun Life Financial INC increased its holdings in shares of KeyCorp by 80,370.0% in the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after buying an additional 8,037 shares during the last quarter. Finally, AllSquare Wealth Management LLC bought a new stake in shares of KeyCorp in the 3rd quarter worth about $173,000. Institutional investors own 80.91% of the company’s stock.
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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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