KeyCorp (KEY) Expected to Announce Earnings of $0.42 Per Share

Equities analysts forecast that KeyCorp (NYSE:KEY) will post earnings of $0.42 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for KeyCorp’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.40. KeyCorp posted earnings per share of $0.38 during the same quarter last year, which indicates a positive year over year growth rate of 10.5%. The firm is expected to announce its next earnings results before the market opens on Thursday, April 18th.

On average, analysts expect that KeyCorp will report full-year earnings of $1.84 per share for the current year, with EPS estimates ranging from $1.80 to $1.94. For the next financial year, analysts anticipate that the firm will post earnings of $1.98 per share, with EPS estimates ranging from $1.92 to $2.11. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow KeyCorp.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, January 17th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. KeyCorp had a return on equity of 13.26% and a net margin of 24.74%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business earned $0.33 earnings per share.

A number of equities research analysts have issued reports on the company. ValuEngine downgraded KeyCorp from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. CIBC reissued an “average” rating on shares of KeyCorp in a research note on Monday, February 4th. JPMorgan Chase & Co. cut KeyCorp from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $17.00 in a research note on Thursday, April 4th. Scotiabank reissued a “buy” rating and issued a $36.00 price objective on shares of KeyCorp in a research note on Friday, February 22nd. Finally, Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. KeyCorp has an average rating of “Hold” and an average target price of $22.46.

KEY stock traded down $0.21 during midday trading on Wednesday, reaching $16.67. 265,781 shares of the company traded hands, compared to its average volume of 16,628,507. KeyCorp has a 52-week low of $13.65 and a 52-week high of $21.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $16.47 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20.

In related news, insider Angela G. Mago sold 4,162 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $17.33, for a total value of $72,127.46. Following the completion of the transaction, the insider now owns 128,464 shares in the company, valued at approximately $2,226,281.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert A. Deangelis sold 31,166 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $17.37, for a total value of $541,353.42. Following the completion of the transaction, the insider now owns 196,478 shares of the company’s stock, valued at approximately $3,412,822.86. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

A number of hedge funds have recently modified their holdings of KEY. Bruderman Asset Management LLC purchased a new position in KeyCorp in the 4th quarter worth $26,000. First Interstate Bank raised its stake in KeyCorp by 853.0% in the 4th quarter. First Interstate Bank now owns 2,049 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,834 shares during the last quarter. Executive Wealth Management LLC purchased a new position in KeyCorp in the 4th quarter worth $36,000. Lindbrook Capital LLC purchased a new position in KeyCorp in the 4th quarter worth $41,000. Finally, Doyle Wealth Management purchased a new position in KeyCorp in the 4th quarter worth $42,000. Institutional investors own 81.93% of the company’s stock.

KeyCorp Company Profile

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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