Analysts Issue Forecasts for KeyCorp’s FY2019 Earnings (KEY)

KeyCorp (NYSE:KEY) – Equities researchers at Oppenheimer issued their FY2019 EPS estimates for shares of KeyCorp in a research report issued to clients and investors on Tuesday. Oppenheimer analyst B. Chittenden anticipates that the financial services provider will post earnings of $1.91 per share for the year. Oppenheimer currently has a “Hold” rating on the stock.

Other research analysts have also recently issued reports about the company. CIBC reissued a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a research note on Thursday, October 19th. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, December 26th. Finally, Robert W. Baird reissued a “hold” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.56.

Shares of KeyCorp (KEY) traded up $0.01 during trading on Thursday, hitting $20.33. The company had a trading volume of 5,886,846 shares, compared to its average volume of 7,921,562. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. KeyCorp has a twelve month low of $16.28 and a twelve month high of $20.59. The firm has a market capitalization of $21,860.00, a PE ratio of 17.68, a PEG ratio of 1.67 and a beta of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, November 27th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is presently 36.52%.

In related news, Director Elizabeth R. Gile bought 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired 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 of the company’s stock, valued at approximately $455,549.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold 57,212 shares of company stock worth $1,060,508 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beach Investment Management LLC. bought a new stake in KeyCorp in the second quarter valued at approximately $241,000. Blair William & Co. IL raised its stake in KeyCorp by 1.4% in the second quarter. Blair William & Co. IL now owns 14,953 shares of the financial services provider’s stock valued at $280,000 after buying an additional 204 shares during the period. Pacer Advisors Inc. raised its stake in KeyCorp by 8.3% in the second quarter. Pacer Advisors Inc. now owns 24,510 shares of the financial services provider’s stock valued at $459,000 after buying an additional 1,885 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in KeyCorp by 1.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 48,505 shares of the financial services provider’s stock valued at $909,000 after buying an additional 877 shares during the period. Finally, Principal Financial Group Inc. raised its stake in KeyCorp by 7.3% in the second quarter. Principal Financial Group Inc. now owns 1,732,296 shares of the financial services provider’s stock valued at $32,463,000 after buying an additional 117,117 shares during the period. Institutional investors and hedge funds own 80.91% of the company’s stock.

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About KeyCorp

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.

Earnings History and Estimates for KeyCorp (NYSE:KEY)

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