KeyCorp (NYSE:KEY) Forecasted to Post Q2 2019 Earnings of $0.43 Per Share

KeyCorp (NYSE:KEY) – Jefferies Financial Group reduced their Q2 2019 earnings per share (EPS) estimates for KeyCorp in a note issued to investors on Tuesday, July 9th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $0.43 for the quarter, down from their prior forecast of $0.45. Jefferies Financial Group has a “Buy” rating and a $18.50 price objective on the stock. Jefferies Financial Group also issued estimates for KeyCorp’s FY2020 earnings at $1.95 EPS.

Several other research analysts have also issued reports on the company. Robert W. Baird dropped their target price on Micron Technology from $32.00 to $28.00 and set an “underperform” rating for the company in a research report on Friday, June 21st. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, July 8th. ValuEngine lowered Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. dropped their target price on Realogy from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Finally, Nomura boosted their target price on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, March 29th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.01.

Shares of NYSE:KEY opened at $17.87 on Friday. KeyCorp has a 1 year low of $13.65 and a 1 year high of $21.91. The company’s 50 day simple moving average is $17.10. The stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.49 and a beta of 1.25. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm earned $0.38 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis.

Large investors have recently modified their holdings of the stock. Stanley Laman Group Ltd. increased its position in shares of KeyCorp by 0.7% during the first quarter. Stanley Laman Group Ltd. now owns 83,786 shares of the financial services provider’s stock worth $1,320,000 after purchasing an additional 586 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of KeyCorp by 10.0% during the first quarter. Rehmann Capital Advisory Group now owns 7,012 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 640 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of KeyCorp by 50.7% during the first quarter. Global Retirement Partners LLC now owns 1,989 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 669 shares in the last quarter. Brown Advisory Inc. increased its position in shares of KeyCorp by 2.9% during the fourth quarter. Brown Advisory Inc. now owns 23,848 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 672 shares in the last quarter. Finally, Sowell Financial Services LLC increased its position in shares of KeyCorp by 2.3% during the fourth quarter. Sowell Financial Services LLC now owns 37,219 shares of the financial services provider’s stock worth $550,000 after purchasing an additional 854 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

In related news, insider Amy G. Brady sold 13,238 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $17.00, for a total value of $225,046.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is 39.31%.

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.

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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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