KeyCorp (NYSE:KEY) Announces Earnings Results


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KeyCorp (NYSE:KEY) posted its quarterly earnings results on Monday. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.13, MarketWatch Earnings reports. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.68 billion. KeyCorp had a net margin of 16.38% and a return on equity of 7.87%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 earnings per share.

Shares of KEY opened at $19.84 on Wednesday. The stock has a market capitalization of $19.05 billion, a PE ratio of 17.25 and a beta of 1.58. The firm’s 50 day moving average is $20.47 and its 200-day moving average is $17.24. KeyCorp has a 12 month low of $9.05 and a 12 month high of $21.81. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.80.

In other KeyCorp news, insider Angela G. Mago sold 5,957 shares of KeyCorp stock in a transaction dated Tuesday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $105,438.90. Following the completion of the transaction, the insider now directly owns 166,354 shares of the company’s stock, valued at $2,944,465.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Several research analysts recently weighed in on the company. Zacks Investment Research lowered KeyCorp from a “strong-buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Tuesday, March 9th. Deutsche Bank Aktiengesellschaft upped their price target on KeyCorp from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Thursday, April 1st. Credit Suisse Group upped their price target on KeyCorp from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, January 27th. Stephens upped their target price on KeyCorp from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 30th. Finally, Wedbush upped their target price on KeyCorp from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, January 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $22.56.

KeyCorp announced that its Board of Directors has initiated a share repurchase program on Thursday, January 21st that allows the company to buyback $900.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Earnings History for KeyCorp (NYSE:KEY)

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