FY2018 EPS Estimates for KeyCorp (KEY) Lifted by Oppenheimer Holdings
KeyCorp (NYSE:KEY) – Analysts at Oppenheimer Holdings upped their FY2018 earnings per share estimates for KeyCorp in a report released on Sunday. Oppenheimer Holdings analyst B. Chittenden now anticipates that the financial services provider will post earnings of $1.56 per share for the year, up from their prior estimate of $1.54. Oppenheimer Holdings has a “Hold” rating on the stock.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. KeyCorp had a net margin of 14.69% and a return on equity of 9.30%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 44.4% on a year-over-year basis.
KEY has been the subject of several other research reports. Keefe, Bruyette & Woods set a $20.00 target price on shares of KeyCorp and gave the company a “hold” rating in a report on Saturday, June 24th. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 target price (up previously from $21.00) on shares of KeyCorp in a report on Friday. BidaskClub upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Piper Jaffray Companies upgraded shares of KeyCorp from a “neutral” rating to an “overweight” rating and increased their target price for the company from $19.00 to $21.00 in a report on Monday, April 24th. Finally, Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.20.
Shares of KeyCorp (NYSE:KEY) remained flat at $19.29 on Tuesday. 6,160,208 shares of the stock traded hands. KeyCorp has a 12 month low of $11.06 and a 12 month high of $19.53. The firm has a market cap of $21.14 billion, a PE ratio of 22.46 and a beta of 1.13. The company’s 50-day moving average is $18.14 and its 200-day moving average is $18.20.
Institutional investors have recently modified their holdings of the company. Bollard Group LLC raised its position in KeyCorp by 5.8% in the first quarter. Bollard Group LLC now owns 121,204 shares of the financial services provider’s stock worth $2,155,000 after buying an additional 6,610 shares during the period. James Investment Research Inc. raised its position in KeyCorp by 1.3% in the first quarter. James Investment Research Inc. now owns 1,077,660 shares of the financial services provider’s stock worth $19,161,000 after buying an additional 14,300 shares during the period. Franklin Resources Inc. raised its position in KeyCorp by 11.5% in the fourth quarter. Franklin Resources Inc. now owns 330,295 shares of the financial services provider’s stock worth $6,034,000 after buying an additional 34,195 shares during the period. Meadow Creek Investment Management LLC raised its position in KeyCorp by 257.3% in the first quarter. Meadow Creek Investment Management LLC now owns 77,748 shares of the financial services provider’s stock worth $1,382,000 after buying an additional 55,990 shares during the period. Finally, Earnest Partners LLC raised its position in KeyCorp by 0.3% in the first quarter. Earnest Partners LLC now owns 2,536,317 shares of the financial services provider’s stock worth $45,096,000 after buying an additional 8,760 shares during the period. Hedge funds and other institutional investors own 80.87% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Tuesday, May 30th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, May 25th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.09. KeyCorp’s dividend payout ratio (DPR) is currently 44.71%.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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