KeyCorp (KEY) – Analysts’ Weekly Ratings Changes
A number of research firms have changed their ratings and price targets for KeyCorp (NYSE: KEY):
- 10/13/2016 – KeyCorp was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $14.14 price target on the stock.
- 10/12/2016 – KeyCorp had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
- 10/6/2016 – KeyCorp is now covered by analysts at Wedbush. They set an “outperform” rating and a $15.00 price target on the stock.
- 10/4/2016 – KeyCorp was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Estimates have been stable lately ahead of KeyCorp’s third-quarter 2016 earnings release. Further, as the company has been consistently streamlining operations, diversifying products and exiting unprofitable businesses, overall expenses are expected to remain stable in the near term. Also, an efficient organic growth strategy, improving credit quality and robust balance sheet position are anticipated to boost the company’s financials. However, a persistent decline in net interest margin owing low interest rate environment remains a major concern. Moreover, increased dependence on home equity and commercial real estate loans raises the exposure of the company’s profits to these avenues and any deterioration in its prices may have an adverse effect on its balance sheet.”
- 9/27/2016 – KeyCorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Persistent decline in KeyCorp’s net interest margin owing low interest rate environment remains a major concern. Moreover, increased dependence on home equity and commercial real estate loans raises the exposure of the company’s profits to these avenues and any deterioration in its prices may have an adverse effect on its balance sheet. However, the company's restructuring initiatives, improving credit quality and a robust balance sheet position will support its financials. Additionally, the company’s acquisition of First Niagara is expected to be accretive to its earnings.”
- 8/29/2016 – KeyCorp was downgraded by analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating. They now have a $13.00 price target on the stock, down previously from $14.50.
- 8/22/2016 – KeyCorp had its price target raised by analysts at Citigroup Inc. from $14.00 to $15.00. They now have a “buy” rating on the stock.
Shares of KeyCorp (NYSE:KEY) opened at 12.52 on Monday. KeyCorp has a 52 week low of $9.88 and a 52 week high of $14.01. The stock’s 50 day moving average is $12.39 and its 200-day moving average is $11.97. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 12.95 and a beta of 1.21.
KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. KeyCorp had a net margin of 17.81% and a return on equity of 8.46%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that KeyCorp will post $1.06 earnings per share for the current year.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.