Equities Analysts Set Expectations for KeyCorp’s FY2023 Earnings (NYSE:KEY)

KeyCorp (NYSE:KEY) – Stock analysts at Wedbush issued their FY2023 EPS estimates for KeyCorp in a research report issued to clients and investors on Sunday, September 12th. Wedbush analyst P. Winter expects that the financial services provider will post earnings of $2.17 per share for the year.

KEY has been the topic of several other reports. Citigroup started coverage on KeyCorp in a research note on Friday, July 16th. They set a “hold” rating and a $20.16 target price on the stock. Odeon Capital Group cut KeyCorp from a “buy” rating to a “hold” rating and set a $17.73 price target on the stock. in a research note on Monday, July 19th. Morgan Stanley reduced their price target on KeyCorp from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, August 2nd. Royal Bank of Canada upped their price target on KeyCorp from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. Finally, Wells Fargo & Company upped their price target on KeyCorp from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $25.65.

KEY opened at $20.60 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.86 and a current ratio of 0.87. KeyCorp has a 52-week low of $11.33 and a 52-week high of $23.65. The stock has a market capitalization of $19.70 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 0.38 and a beta of 1.54. The stock’s 50 day moving average price is $20.00 and its 200-day moving average price is $20.86.

KeyCorp (NYSE:KEY) last released its earnings results on Monday, July 19th. The financial services provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.19. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. KeyCorp had a return on equity of 14.21% and a net margin of 30.87%. KeyCorp’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

A number of institutional investors and hedge funds have recently modified their holdings of KEY. Providence Capital Advisors LLC purchased a new stake in shares of KeyCorp during the first quarter worth about $1,252,000. BNP Paribas Arbitrage SA grew its position in shares of KeyCorp by 184.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,155,913 shares of the financial services provider’s stock worth $23,095,000 after purchasing an additional 749,850 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of KeyCorp by 3.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 163,176 shares of the financial services provider’s stock worth $3,329,000 after purchasing an additional 5,938 shares in the last quarter. Pendal Group Limited grew its position in shares of KeyCorp by 248.5% during the first quarter. Pendal Group Limited now owns 113,990 shares of the financial services provider’s stock worth $2,278,000 after purchasing an additional 81,284 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of KeyCorp by 3.8% during the first quarter. Kovitz Investment Group Partners LLC now owns 121,755 shares of the financial services provider’s stock worth $2,433,000 after purchasing an additional 4,463 shares in the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.

In other KeyCorp news, insider Jamie Warder sold 3,112 shares of the stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $19.97, for a total value of $62,146.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by corporate insiders.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, August 30th. KeyCorp’s payout ratio is currently 58.73%.

About KeyCorp

KeyCorp operates as bank holding company, which engages in the provision of financial services. it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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