Brokerages Anticipate KeyCorp (NYSE:KEY) to Announce $0.48 EPS

Brokerages expect KeyCorp (NYSE:KEY) to post earnings per share of $0.48 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for KeyCorp’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.45. KeyCorp posted earnings per share of $0.45 during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The business is scheduled to report its next earnings results before the market opens on Thursday, October 17th.

According to Zacks, analysts expect that KeyCorp will report full-year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from $1.75 to $1.83. For the next year, analysts anticipate that the company will report earnings of $1.90 per share, with EPS estimates ranging from $1.85 to $1.95. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover KeyCorp.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. KeyCorp had a net margin of 23.15% and a return on equity of 12.82%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share.

Several brokerages recently weighed in on KEY. Robert W. Baird raised shares of KeyCorp from a “neutral” rating to an “outperform” rating and raised their price target for the company from $18.00 to $19.00 in a research report on Friday, June 21st. Jefferies Financial Group increased their price objective on shares of KeyCorp from $20.00 to $18.50 and gave the stock a “buy” rating in a research note on Monday, May 6th. ValuEngine upgraded shares of KeyCorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 18th. Credit Suisse Group upgraded shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday. Finally, Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $23.88.

Shares of KEY traded down $0.05 on Friday, hitting $16.47. 6,164,236 shares of the stock traded hands, compared to its average volume of 11,222,680. The stock has a market cap of $16.52 billion, a P/E ratio of 9.52, a PEG ratio of 2.84 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $17.57. KeyCorp has a one year low of $13.65 and a one year high of $21.91.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, August 26th. This is an increase from KeyCorp’s previous quarterly dividend of $0.17. This represents a $0.74 dividend on an annualized basis and a yield of 4.49%. KeyCorp’s dividend payout ratio is 39.31%.

In related news, insider Andrew J. Paine III sold 99,999 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the sale, the insider now directly owns 85,469 shares of the company’s stock, valued at $1,560,663.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amy G. Brady sold 13,238 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.00, for a total transaction of $225,046.00. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in KEY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position 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 worth $929,000 after purchasing an additional 2,538 shares during the last quarter. Bell Rock Capital LLC boosted its position in shares of KeyCorp by 1.1% during the 1st quarter. Bell Rock Capital LLC now owns 181,703 shares of the financial services provider’s stock worth $2,863,000 after purchasing an additional 1,908 shares in the last quarter. TrimTabs Asset Management LLC purchased a new stake in shares of KeyCorp during the 1st quarter worth $1,163,000. Winslow Evans & Crocker Inc. boosted its position in shares of KeyCorp by 106.7% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 7,604 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 3,926 shares in the last quarter. Finally, WP Advisors LLC purchased a new stake in shares of KeyCorp during the 1st quarter worth $102,000. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

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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