Wall Street brokerages predict that KeyCorp (NYSE:KEY) will report sales of $1.68 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for KeyCorp’s earnings. The highest sales estimate is $1.68 billion and the lowest is $1.67 billion. KeyCorp posted sales of $1.62 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is scheduled to report its next earnings results before the market opens on Wednesday, October 21st.
According to Zacks, analysts expect that KeyCorp will report full-year sales of $6.49 billion for the current fiscal year, with estimates ranging from $6.16 billion to $6.64 billion. For the next financial year, analysts anticipate that the firm will post sales of $6.53 billion, with estimates ranging from $6.20 billion to $6.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for KeyCorp.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. KeyCorp had a net margin of 15.85% and a return on equity of 8.52%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year.
Several equities research analysts recently weighed in on KEY shares. Morgan Stanley upped their price objective on shares of KeyCorp from $14.00 to $15.25 and gave the stock an “equal weight” rating in a report on Monday, June 8th. Stephens cut shares of KeyCorp from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research report on Wednesday, June 3rd. ValuEngine cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Wolfe Research initiated coverage on shares of KeyCorp in a research report on Friday, July 31st. They issued an “underperform” rating on the stock. Finally, Royal Bank of Canada dropped their price target on shares of KeyCorp from $16.00 to $13.00 in a research report on Wednesday, July 1st. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.54.
Shares of KEY opened at $12.71 on Thursday. KeyCorp has a 1 year low of $7.45 and a 1 year high of $20.52. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 2.46 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a fifty day moving average of $12.46 and a 200-day moving average of $11.98.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.185 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.74 dividend on an annualized basis and a dividend yield of 5.82%. KeyCorp’s dividend payout ratio is 41.11%.
In other news, insider Angela G. Mago sold 3,646 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $12.46, for a total value of $45,429.16. Following the transaction, the insider now owns 171,829 shares in the company, valued at approximately $2,140,989.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Procyon Private Wealth Partners LLC grew its stake in shares of KeyCorp by 77.2% in the 1st quarter. Procyon Private Wealth Partners LLC now owns 2,373 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,034 shares in the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in shares of KeyCorp by 110.0% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 2,100 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,100 shares in the last quarter. Kore Private Wealth LLC grew its stake in shares of KeyCorp by 522.9% in the 2nd quarter. Kore Private Wealth LLC now owns 2,504 shares of the financial services provider’s stock valued at $30,000 after buying an additional 2,102 shares in the last quarter. WASHINGTON TRUST Co bought a new stake in shares of KeyCorp in the 1st quarter valued at approximately $31,000. Finally, Bartlett & Co. LLC bought a new stake in shares of KeyCorp in the 1st quarter valued at approximately $32,000. Institutional investors own 79.72% of the company’s stock.
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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