KeyCorp (KEY) Forecasted to Earn Q1 2018 Earnings of $0.40 Per Share

KeyCorp (NYSE:KEY) – Investment analysts at DA Davidson raised their Q1 2018 earnings per share estimates for KeyCorp in a report issued on Friday. DA Davidson analyst K. Reevey now anticipates that the financial services provider will post earnings of $0.40 per share for the quarter, up from their prior estimate of $0.39. DA Davidson currently has a “Buy” rating and a $26.00 price target on the stock. DA Davidson also issued estimates for KeyCorp’s Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.70 EPS and FY2019 earnings at $1.87 EPS.

A number of other equities research analysts have also recently weighed in on the company. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Thursday, December 14th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.50 price target on shares of KeyCorp in a report on Thursday, December 14th. Finally, Barclays raised their price target on KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.98.

KeyCorp (NYSE KEY) opened at $21.16 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $22,760.00, a P/E ratio of 18.89, a P/E/G ratio of 1.62 and a beta of 1.09. KeyCorp has a 52-week low of $16.28 and a 52-week high of $21.71.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter last year, the company earned $0.31 EPS.

Several large investors have recently bought and sold shares of KEY. Quantitative Investment Management LLC boosted its position in shares of KeyCorp by 1,091.2% in the 2nd quarter. Quantitative Investment Management LLC now owns 352,600 shares of the financial services provider’s stock worth $6,607,000 after purchasing an additional 323,000 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of KeyCorp by 14.4% in the 2nd quarter. GSA Capital Partners LLP now owns 42,349 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 5,328 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of KeyCorp by 16.1% in the 2nd quarter. D.A. Davidson & CO. now owns 33,475 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 4,633 shares during the last quarter. TIAA FSB bought a new position in shares of KeyCorp in the 2nd quarter worth $218,000. Finally, Quantbot Technologies LP bought a new position in shares of KeyCorp in the 2nd quarter worth $174,000. Institutional investors and hedge funds own 81.01% of the company’s stock.

In other news, General Counsel Paul N. Harris sold 2,758 shares of KeyCorp stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total value of $51,133.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elizabeth R. Gile bought 1,374 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the purchase, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 over the last three months. Insiders own 0.65% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be paid a $0.105 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 annualized dividend and a dividend yield of 1.98%. KeyCorp’s dividend payout ratio (DPR) is currently 37.50%.

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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)

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