$0.48 EPS Expected for KeyCorp (NYSE:KEY) This Quarter

Brokerages expect KeyCorp (NYSE:KEY) to report $0.48 earnings per share for the current quarter, according to Zacks Investment Research. 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 in the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The company is expected to issue its next earnings report before the market opens on Thursday, October 17th.

On average, analysts expect that KeyCorp will report full year earnings of $1.79 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.83. For the next fiscal year, analysts forecast that the business will post earnings of $1.89 per share, with EPS estimates ranging from $1.85 to $1.95. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover KeyCorp.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. The company had revenue of $1.61 billion for 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 company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS.

Several research firms recently issued reports on KEY. Wood & Company reissued an “average” rating and set a $38.00 price objective on shares of KeyCorp in a research note on Thursday, May 16th. Nomura set a $18.00 target price on shares of KeyCorp and gave the company a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating and set a $20.00 target price on the stock. in a research report on Monday, July 8th. Jefferies Financial Group increased their target price on shares of KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Robert W. Baird raised shares of KeyCorp from a “neutral” rating to an “outperform” rating and increased their target price for the company from $18.00 to $19.00 in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $23.88.

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

Hedge funds have recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC purchased a new stake in KeyCorp in the first quarter valued at approximately $25,000. Bremer Bank National Association bought a new stake in KeyCorp during the first quarter worth about $29,000. Global Retirement Partners LLC lifted its stake in 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 during the last quarter. Mizuho Securities Co. Ltd. lifted its stake in KeyCorp by 56.3% during the first quarter. Mizuho Securities Co. Ltd. now owns 2,500 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 900 shares during the last quarter. Finally, Manchester Financial Inc. bought a new stake in KeyCorp during the second quarter worth about $46,000. 79.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE KEY traded down $0.59 during mid-day trading on Friday, hitting $15.98. The company had a trading volume of 7,728,221 shares, compared to its average volume of 9,201,109. The company has a market capitalization of $16.62 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 2.84 and a beta of 1.24. KeyCorp has a 1 year low of $13.65 and a 1 year high of $21.50. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average price is $17.26 and its 200-day moving average price is $17.01.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, August 26th. This is a boost from KeyCorp’s previous quarterly dividend of $0.17. KeyCorp’s payout ratio 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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