$1.59 Billion in Sales Expected for KeyCorp (KEY) This Quarter
Wall Street analysts expect KeyCorp (NYSE:KEY) to report $1.59 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for KeyCorp’s earnings. The lowest sales estimate is $1.57 billion and the highest is $1.60 billion. KeyCorp posted sales of $1.56 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The firm is expected to report its next earnings results before the market opens on Thursday, January 18th.
According to Zacks, analysts expect that KeyCorp will report full year sales of $1.59 billion for the current year, with estimates ranging from $6.18 billion to $6.30 billion. For the next year, analysts forecast that the firm will report sales of $6.47 billion per share, with estimates ranging from $6.34 billion to $6.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover KeyCorp.
KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS.
KeyCorp (NYSE KEY) traded up $0.50 on Tuesday, reaching $19.63. 16,942,200 shares of the company’s stock were exchanged, compared to its average volume of 11,005,056. KeyCorp has a 52-week low of $16.28 and a 52-week high of $19.93. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06. The company has a market cap of $20,572.40, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a dividend of $0.105 per share. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, November 27th. This represents a $0.42 annualized dividend and a yield of 2.14%. KeyCorp’s dividend payout ratio is presently 36.84%.
In other KeyCorp news, Director Elizabeth R. Gile bought 1,374 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was purchased at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the transaction, the insider now owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,212 shares of company stock valued at $1,060,508. Company insiders own 0.65% of the company’s stock.
A number of large investors have recently modified their holdings of KEY. Meeder Asset Management Inc. lifted its holdings in shares of KeyCorp by 78.0% in the third quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock worth $1,055,000 after buying an additional 24,554 shares in the last quarter. Flippin Bruce & Porter Inc. lifted its holdings in shares of KeyCorp by 3.9% in the second quarter. Flippin Bruce & Porter Inc. now owns 451,881 shares of the financial services provider’s stock worth $8,468,000 after buying an additional 17,103 shares in the last quarter. Toronto Dominion Bank raised its stake in KeyCorp by 11.1% in the third quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after purchasing an additional 42,971 shares in the last quarter. Greenwood Capital Associates LLC raised its stake in KeyCorp by 1.3% in the second quarter. Greenwood Capital Associates LLC now owns 41,874 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 534 shares in the last quarter. Finally, Private Capital Management Inc. raised its stake in KeyCorp by 29.7% in the third quarter. Private Capital Management Inc. now owns 27,500 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 6,300 shares in the last quarter. Hedge funds and other institutional investors own 81.20% of the company’s stock.
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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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