Q1 2019 Earnings Forecast for KeyCorp Issued By Wedbush (KEY)

KeyCorp (NYSE:KEY) – Equities researchers at Wedbush boosted their Q1 2019 EPS estimates for shares of KeyCorp in a research report issued on Tuesday, October 30th. Wedbush analyst P. Winter now anticipates that the financial services provider will earn $0.43 per share for the quarter, up from their prior forecast of $0.42. Wedbush currently has a “Buy” rating and a $23.00 target price on the stock. Wedbush also issued estimates for KeyCorp’s Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.51 EPS, Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $1.95 EPS and FY2020 earnings at $2.13 EPS.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis.

Several other research analysts also recently commented on the stock. UBS Group set a $23.00 price objective on shares of KeyCorp and gave the company a “buy” rating in a research report on Monday, October 22nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price objective on shares of KeyCorp in a research report on Monday, October 22nd. Piper Jaffray Companies restated a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research report on Monday, October 22nd. BMO Capital Markets lowered their price objective on shares of KeyCorp from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Finally, Nomura lowered their price objective on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $23.39.

Shares of KEY opened at $18.43 on Thursday. KeyCorp has a one year low of $16.48 and a one year high of $22.40. The company has a market cap of $19.10 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.67 and a beta of 1.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.88.

Several large investors have recently made changes to their positions in the company. Albion Financial Group UT grew its stake in shares of KeyCorp by 3.0% in the second quarter. Albion Financial Group UT now owns 474,321 shares of the financial services provider’s stock worth $9,268,000 after purchasing an additional 14,015 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in shares of KeyCorp in the third quarter worth $329,000. Dynamic Technology Lab Private Ltd grew its stake in shares of KeyCorp by 138.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 91,841 shares of the financial services provider’s stock worth $1,795,000 after purchasing an additional 53,291 shares during the last quarter. Laurion Capital Management LP grew its stake in shares of KeyCorp by 114.6% in the second quarter. Laurion Capital Management LP now owns 42,145 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 331,648 shares during the last quarter. Finally, South State Corp grew its stake in shares of KeyCorp by 15.3% in the second quarter. South State Corp now owns 73,032 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 9,670 shares during the last quarter. Institutional investors own 80.08% of the company’s stock.

In other news, insider Edward J. Burke sold 46,360 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $21.32, for a total transaction of $988,395.20. Following the completion of the transaction, the insider now directly owns 89,128 shares in the company, valued at $1,900,208.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas M. Schosser sold 6,048 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $21.49, for a total transaction of $129,971.52. Following the transaction, the insider now owns 23,164 shares of the company’s stock, valued at $497,794.36. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

About KeyCorp

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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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