KeyCorp (NYSE:KEY) Expected to Post Quarterly Sales of $1.62 Billion

Analysts predict that KeyCorp (NYSE:KEY) will report $1.62 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for KeyCorp’s earnings, with the lowest sales estimate coming in at $1.61 billion and the highest estimate coming in at $1.64 billion. KeyCorp reported sales of $1.64 billion in the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, July 23rd.

According to Zacks, analysts expect that KeyCorp will report full year sales of $6.46 billion for the current fiscal year, with estimates ranging from $6.44 billion to $6.49 billion. For the next financial year, analysts forecast that the firm will post sales of $6.69 billion, with estimates ranging from $6.59 billion to $6.93 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for KeyCorp.

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 consensus estimate of $0.42 by ($0.02). KeyCorp had a return on equity of 13.16% and a net margin of 24.18%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was down 2.1% on a year-over-year basis.

A number of research firms recently weighed in on KEY. Jefferies Financial Group raised their price objective on KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a research report on Monday, May 6th. ValuEngine lowered Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. reduced their price objective on Realogy from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Monday, July 8th. Finally, Wood & Company reaffirmed an “average” rating and set a $38.00 price objective on shares of KeyCorp in a research report on Thursday, May 16th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.01.

In other news, insider Amy G. Brady sold 13,238 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.00, for a total value of $225,046.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.08% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in KEY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in KeyCorp by 4.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,976 shares of the financial services provider’s stock valued at $929,000 after acquiring an additional 2,538 shares during the period. Bell Rock Capital LLC raised its holdings in KeyCorp by 1.1% during the first quarter. Bell Rock Capital LLC now owns 181,703 shares of the financial services provider’s stock valued at $2,863,000 after acquiring an additional 1,908 shares during the period. TrimTabs Asset Management LLC bought a new stake in KeyCorp during the first quarter valued at about $1,163,000. WP Advisors LLC bought a new stake in KeyCorp during the first quarter valued at about $102,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in KeyCorp during the first quarter valued at about $645,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Shares of NYSE:KEY traded down $0.21 during trading on Friday, hitting $17.38. The stock had a trading volume of 12,470,964 shares, compared to its average volume of 11,484,462. KeyCorp has a 12 month low of $13.65 and a 12 month high of $21.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market cap of $18.02 billion, a P/E ratio of 10.05, a PEG ratio of 5.35 and a beta of 1.25. The company has a fifty day moving average of $17.18.

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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