KeyCorp (KEY) Scheduled to Post Earnings on Thursday
KeyCorp (NYSE:KEY) will be releasing its earnings data before the market opens on Thursday, October 19th. Analysts expect KeyCorp to post earnings of $0.36 per share for the quarter.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The firm’s revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, analysts expect KeyCorp to post $1.36 EPS for the current fiscal year and $1.55 EPS for the next fiscal year.
KeyCorp (NYSE KEY) opened at 18.44 on Thursday. KeyCorp has a 52-week low of $12.20 and a 52-week high of $19.53. The firm has a market cap of $20.05 billion, a price-to-earnings ratio of 18.31 and a beta of 1.13. The firm’s 50-day moving average price is $17.92 and its 200 day moving average price is $18.11.
KeyCorp announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other KeyCorp news, Director Alexander M. Cutler acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was acquired at an average cost of $18.55 per share, with a total value of $92,750.00. Following the acquisition, the director now directly owns 55,000 shares of the company’s stock, valued at approximately $1,020,250. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ruth Ann M. Gillis acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of $17.91 per share, with a total value of $35,820.00. Following the completion of the acquisition, 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 purchased 16,000 shares of company stock valued at $290,540 and sold 259,409 shares valued at $4,794,449. Corporate insiders own 0.65% of the company’s stock.
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Several brokerages have issued reports on KEY. Keefe, Bruyette & Woods set a $20.00 price objective on KeyCorp and gave the company a “hold” rating in a research note on Saturday, June 24th. Wells Fargo & Company began coverage on KeyCorp in a research note on Wednesday, August 9th. They set a “market perform” rating and a $19.00 price objective on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $22.00 price objective on shares of KeyCorp in a research note on Wednesday, September 27th. Robert W. Baird restated a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Friday, October 6th. Finally, BidaskClub cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.03.
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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