KeyCorp (NYSE:KEY) – Investment analysts at Wedbush dropped their Q4 2017 earnings estimates for shares of KeyCorp in a report released on Thursday. Wedbush analyst P. Winter now expects that the financial services provider will earn $0.36 per share for the quarter, down from their prior forecast of $0.37. Wedbush also issued estimates for KeyCorp’s FY2018 earnings at $1.48 EPS.

Other analysts have also issued reports about the stock. UBS AG upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 10th. Instinet reiterated a “buy” rating and set a $23.00 target price on shares of KeyCorp in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 11th. Jefferies Group LLC reiterated a “buy” rating and set a $21.00 target price on shares of KeyCorp in a research report on Friday, July 14th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $20.50 target price on shares of KeyCorp in a research report on Friday, July 21st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. KeyCorp has a consensus rating of “Hold” and a consensus target price of $20.31.

ILLEGAL ACTIVITY WARNING: “KeyCorp (KEY) Forecasted to Earn Q4 2017 Earnings of $0.36 Per Share” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/23/keycorp-key-forecasted-to-earn-q4-2017-earnings-of-0-36-per-share.html.

Shares of KeyCorp (NYSE KEY) opened at 18.49 on Monday. The stock has a 50 day moving average of $18.11 and a 200-day moving average of $18.14. KeyCorp has a 52 week low of $12.84 and a 52 week high of $19.53. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 18.36 and a beta of 1.13.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a net margin of 23.57% and a return on equity of 9.84%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after purchasing an additional 4,230,390 shares during the period. BlackRock Inc. grew its holdings in KeyCorp by 2.7% during the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock valued at $1,624,654,000 after purchasing an additional 2,280,450 shares during the period. Northern Trust Corp grew its holdings in KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock valued at $232,925,000 after purchasing an additional 231,558 shares during the period. Bessemer Group Inc. grew its holdings in KeyCorp by 0.7% during the second quarter. Bessemer Group Inc. now owns 12,000,915 shares of the financial services provider’s stock valued at $224,897,000 after purchasing an additional 87,019 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in KeyCorp by 6,189.4% during the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after purchasing an additional 8,962,913 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

In related news, General Counsel Paul N. Harris sold 205,024 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $18.56, for a total transaction of $3,805,245.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Ann M. Gillis purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average cost of $18.00 per share, with a total value of $54,000.00. Following the completion of the purchase, the director now owns 10,551 shares of the company’s stock, valued at $189,918. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 16,000 shares of company stock valued at $290,540 and have sold 259,409 shares valued at $4,794,449. Insiders own 0.65% of the company’s stock.

KeyCorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.

Earnings History and Estimates for KeyCorp (NYSE:KEY)

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.