$1.56 Billion in Sales Expected for KeyCorp (KEY) This Quarter

Wall Street analysts forecast that KeyCorp (NYSE:KEY) will report sales of $1.56 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for KeyCorp’s earnings, with estimates ranging from $1.54 billion to $1.59 billion. KeyCorp reported sales of $1.50 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4%. The company is expected to issue its next earnings results on Thursday, April 19th.

According to Zacks, analysts expect that KeyCorp will report full year sales of $1.56 billion for the current fiscal year, with estimates ranging from $6.36 billion to $6.54 billion. For the next year, analysts expect that the business will report sales of $6.72 billion per share, with estimates ranging from $6.57 billion to $6.86 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow KeyCorp.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business earned $0.31 EPS.

A number of research analysts have recently commented on KEY shares. Morgan Stanley restated an “overweight” rating and set a $23.00 price target on shares of KeyCorp in a research report on Thursday, December 14th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Oppenheimer restated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Deutsche Bank upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $23.00 to $24.00 in a research report on Thursday, January 25th. Finally, Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $22.07.

KeyCorp (NYSE KEY) opened at $20.39 on Friday. The firm has a market cap of $21,798.62, a P/E ratio of 14.88, a P/E/G ratio of 1.52 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. KeyCorp has a one year low of $16.28 and a one year high of $22.22.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be given a $0.105 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 annualized dividend and a yield of 2.06%. KeyCorp’s dividend payout ratio (DPR) is presently 37.50%.

In related news, insider Craig A. Buffie sold 11,819 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the transaction, the insider now directly owns 51,791 shares in the company, valued at $1,098,487.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elizabeth R. Gile purchased 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The stock was acquired 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 of the company’s stock, valued at $455,549.47. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of KEY. Zions Bancorporation lifted its stake in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in KeyCorp in the third quarter worth $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in KeyCorp in the third quarter worth $145,000. AllSquare Wealth Management LLC bought a new stake in KeyCorp in the third quarter worth $173,000. Finally, Connable Office Inc. bought a new stake in KeyCorp in the third quarter worth $195,000. 82.04% of the stock is owned by institutional investors and hedge funds.

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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.

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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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