Zacks Research Has Negative View of KeyCorp FY2027 Earnings

KeyCorp (NYSE:KEY) – Zacks Research decreased their FY2027 earnings estimates for KeyCorp in a report issued on Thursday, June 12th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $1.72 for the year, down from their prior forecast of $1.75. The consensus estimate for KeyCorp’s current full-year earnings is $1.50 per share.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. During the same quarter in the previous year, the firm posted $0.20 earnings per share.

Several other analysts have also issued reports on the stock. Evercore ISI set a $17.00 price target on shares of KeyCorp in a research report on Monday, April 28th. Cowen started coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They issued a “hold” rating on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of KeyCorp in a research report on Thursday, April 17th. Jefferies Financial Group started coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They issued a “hold” rating and a $18.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered their price target on shares of KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.92.

KeyCorp Stock Performance

Shares of KEY stock opened at $15.92 on Monday. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of -53.08, a P/E/G ratio of 0.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The firm’s 50-day simple moving average is $15.39 and its two-hundred day simple moving average is $16.44.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock valued at $2,004,273,000 after purchasing an additional 8,412,625 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in KeyCorp by 40.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after buying an additional 14,651,281 shares during the period. FMR LLC boosted its position in KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider’s stock valued at $761,556,000 after buying an additional 2,938,405 shares during the period. Charles Schwab Investment Management Inc. boosted its position in KeyCorp by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock valued at $566,626,000 after buying an additional 1,452,179 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in KeyCorp by 12.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock valued at $487,882,000 after buying an additional 3,327,972 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the sale, the director now owns 37,177 shares of the company’s stock, valued at approximately $617,138.20. This represents a 11.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amy G. Brady sold 19,000 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the sale, the insider now directly owns 82,523 shares of the company’s stock, valued at $1,327,795.07. This trade represents a 18.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a yield of 5.15%. KeyCorp’s dividend payout ratio is presently -482.35%.

KeyCorp announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.