Brokerages Anticipate KeyCorp (KEY) Will Announce Earnings of $0.35 Per Share
Brokerages expect that KeyCorp (NYSE:KEY) will report earnings per share (EPS) of $0.35 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for KeyCorp’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.38. KeyCorp reported earnings per share of $0.30 in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.7%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, October 19th.
According to Zacks, analysts expect that KeyCorp will report full year earnings of $1.36 per share for the current fiscal year, with EPS estimates ranging from $1.32 to $1.39. For the next year, analysts anticipate that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.41 to $1.60. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for KeyCorp.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $0.27 EPS. The business’s quarterly revenue was up 52.1% on a year-over-year basis.
A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods set a $20.00 target price on KeyCorp and gave the stock a “hold” rating in a report on Saturday, June 24th. BidaskClub raised KeyCorp from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of KeyCorp in a report on Saturday, July 22nd. Instinet reissued a “buy” rating and issued a $23.00 target price on shares of KeyCorp in a report on Wednesday, July 12th. Finally, Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. KeyCorp presently has a consensus rating of “Hold” and an average target price of $20.13.
Shares of KeyCorp (NYSE KEY) traded up 0.22% on Friday, reaching $17.92. The company had a trading volume of 12,743,253 shares. KeyCorp has a 12 month low of $11.89 and a 12 month high of $19.53. The firm has a market capitalization of $19.49 billion, a PE ratio of 17.80 and a beta of 1.12. The company’s 50-day moving average is $17.63 and its 200 day moving average is $18.09.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th were paid a $0.095 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $0.38 annualized dividend and a dividend yield of 2.12%. KeyCorp’s dividend payout ratio (DPR) is currently 38.78%.
KeyCorp announced that its board has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $800.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
In related news, Director Bruce D. Broussard purchased 2,500 shares of KeyCorp stock in a transaction dated Wednesday, July 26th. The shares were acquired at an average cost of $18.17 per share, for a total transaction of $45,425.00. Following the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at $227,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ruth Ann M. Gillis purchased 2,000 shares of KeyCorp stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $17.91 per share, for a total transaction of $35,820.00. Following the completion of the transaction, the director now directly owns 10,551 shares in the company, valued at $188,968.41. The disclosure for this purchase can be found here. Over the last three months, insiders bought 16,000 shares of company stock valued at $290,540 and sold 259,409 shares valued at $4,794,449. 0.65% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of KEY. BlackRock Inc. boosted its position in shares of KeyCorp by 3,258.1% in the 1st quarter. BlackRock Inc. now owns 84,413,892 shares of the financial services provider’s stock worth $1,500,878,000 after purchasing an additional 81,900,174 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of KeyCorp by 6,189.4% in the 2nd quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock worth $170,679,000 after purchasing an additional 8,962,913 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of KeyCorp by 2,048.7% in the 1st quarter. Janus Capital Management LLC now owns 6,317,037 shares of the financial services provider’s stock worth $112,317,000 after purchasing an additional 6,023,049 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of KeyCorp by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after purchasing an additional 4,230,390 shares during the last quarter. Finally, Samlyn Capital LLC bought a new position in shares of KeyCorp in the 2nd quarter worth $57,111,000. Institutional investors and hedge funds own 80.79% of the company’s stock.
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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