Zacks: Analysts Expect KeyCorp (KEY) to Post $0.36 Earnings Per Share

Brokerages expect KeyCorp (NYSE:KEY) to report earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for KeyCorp’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.38. KeyCorp reported earnings per share of $0.31 in the same quarter last year, which indicates a positive year-over-year growth rate of 16.1%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, January 18th.

On average, analysts expect that KeyCorp will report full-year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.30 to $1.33. For the next fiscal year, analysts expect that the company will report earnings of $1.50 per share, with EPS estimates ranging from $1.40 to $1.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for KeyCorp.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis.

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research report on Thursday, October 19th. Citigroup boosted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Friday, October 6th. Wells Fargo & Company assumed coverage on shares of KeyCorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $19.00 price objective on the stock. Finally, Sanford C. Bernstein raised shares of KeyCorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $21.00 to $22.00 in a research report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.09.

Shares of KeyCorp (KEY) traded up $0.05 on Friday, reaching $19.38. 10,170,261 shares of the company were exchanged, compared to its average volume of 10,996,498. KeyCorp has a 52-week low of $16.28 and a 52-week high of $19.93. The stock has a market capitalization of $21,110.10, a P/E ratio of 14.87, a PEG ratio of 1.79 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.17%. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 27th. KeyCorp’s payout ratio is currently 36.84%.

In related news, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total transaction of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth R. Gile acquired 1,374 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were purchased at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders sold 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.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of KeyCorp by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after buying an additional 4,230,390 shares during the period. BlackRock Inc. boosted its holdings in shares of KeyCorp by 2.7% during the 2nd quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after buying an additional 2,280,450 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of KeyCorp by 8.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after buying an additional 1,765,263 shares during the period. Boston Partners bought a new stake in shares of KeyCorp during the 3rd quarter worth $356,111,000. Finally, Northern Trust Corp boosted its holdings in shares of KeyCorp by 1.9% during the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after buying an additional 231,558 shares during the period. 81.20% 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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