Wall Street brokerages expect KeyCorp (NYSE:KEY) to post sales of $1.56 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for KeyCorp’s earnings. The lowest sales estimate is $1.54 billion and the highest is $1.59 billion. KeyCorp reported sales of $1.50 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, April 19th.
According to Zacks, analysts expect that KeyCorp will report full-year sales of $1.56 billion for the current year, with estimates ranging from $6.36 billion to $6.54 billion. For the next year, analysts anticipate that the company will post sales of $6.71 billion per share, with estimates ranging from $6.57 billion to $6.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover KeyCorp.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter in the previous year, the company posted $0.31 earnings per share.
A number of research analysts recently weighed in on KEY shares. ValuEngine lowered KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective on the stock in a report on Thursday, December 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $23.00 price objective on shares of KeyCorp in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.50 price objective on shares of KeyCorp in a report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $22.07.
In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $20.97, for a total value of $1,175,116.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert A. Deangelis sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total value of $527,750.00. Following the completion of the sale, the insider now directly owns 175,053 shares in the company, valued at approximately $3,695,368.83. The disclosure for this sale can be found here. Insiders sold 92,857 shares of company stock worth $1,953,548 in the last three months. 0.65% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its position in shares of KeyCorp by 2.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock valued at $67,299,000 after acquiring an additional 71,018 shares in the last quarter. New England Research & Management Inc. lifted its position in shares of KeyCorp by 12.8% in the fourth quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock valued at $1,026,000 after acquiring an additional 5,750 shares in the last quarter. M&T Bank Corp lifted its position in shares of KeyCorp by 5.6% in the fourth quarter. M&T Bank Corp now owns 86,925 shares of the financial services provider’s stock valued at $1,754,000 after acquiring an additional 4,576 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of KeyCorp in the third quarter valued at $268,000. Finally, Toronto Dominion Bank lifted its position in shares of KeyCorp by 11.1% in the third quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after acquiring an additional 42,971 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.
KeyCorp (KEY) opened at $20.91 on Friday. KeyCorp has a twelve month low of $16.28 and a twelve month high of $22.40. The stock has a market capitalization of $22,656.28, a P/E ratio of 18.67, a PEG ratio of 1.35 and a beta of 1.01. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, February 26th. KeyCorp’s dividend payout ratio (DPR) is 37.50%.
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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