KeyCorp Downgraded by Wunderlich to “Sell” (KEY)
KeyCorp (NYSE:KEY) was downgraded by equities researchers at Wunderlich from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Stock Ratings News reports. They currently have a $6.00 price target on the stock. Wunderlich’s price objective would indicate a potential downside of 52.90% from the stock’s previous close.
Shares of KeyCorp (NYSE:KEY) opened at 12.74 on Tuesday. KeyCorp has a one year low of $7.81 and a one year high of $12.63. The stock’s 50-day moving average is $12.1 and its 200-day moving average is $10.86. The company has a market cap of $11.438 billion and a price-to-earnings ratio of 13.68.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.03. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts predict that KeyCorp will post $0.94 earnings per share for the current fiscal year.
A number of other firms have also recently commented on KEY. Analysts at Keefe, Bruyette & Woods upgraded shares of KeyCorp from an “underperform” rating to a “market perform” rating in a research note to investors on Tuesday, October 22nd. They now have a $12.00 price target on the stock, up previously from $10.00. Separately, analysts at Credit Suisse raised their price target on shares of KeyCorp from $14.00 to $14.50 in a research note to investors on Thursday, October 17th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays raised their price target on shares of KeyCorp from $11.00 to $12.00 in a research note to investors on Thursday, October 17th. They now have an “underweight” rating on the stock. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company. KeyCorp has an average rating of “Hold” and a consensus price target of $11.57.
KeyCorp is a bank holding company. It is a bank-based financial services company. KeyCorp is the parent holding company for KeyBank National Association (NYSE:KEY), its principal subsidiary, through which most of its banking services are provided.
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