B. Riley Analysts Increase Earnings Estimates for KeyCorp (KEY)

KeyCorp (NYSE:KEY) – Equities researchers at B. Riley increased their Q1 2018 earnings estimates for KeyCorp in a research report issued to clients and investors on Thursday. B. Riley analyst S. Moss now expects that the financial services provider will post earnings per share of $0.40 for the quarter, up from their previous estimate of $0.36. B. Riley also issued estimates for KeyCorp’s Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.70 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.48 EPS and FY2019 earnings at $1.80 EPS.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis.

Several other equities research analysts also recently issued reports on KEY. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Sanford C. Bernstein reissued an “outperform” rating and set a $22.00 price objective on shares of KeyCorp in a research report on Wednesday, September 27th. Robert W. Baird reissued a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Friday, October 6th. Citigroup increased their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 9th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. KeyCorp has an average rating of “Buy” and an average price target of $21.56.

Shares of KeyCorp (NYSE KEY) opened at $21.42 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. KeyCorp has a 12-month low of $16.28 and a 12-month high of $21.47. The stock has a market cap of $22,787.72, a price-to-earnings ratio of 18.79, a PEG ratio of 1.62 and a beta of 1.10.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.96%. KeyCorp’s payout ratio is 36.84%.

In related news, Director Carlton L. Highsmith sold 7,600 shares of the 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 transaction, the director now owns 68,725 shares in the company, valued at $1,263,852.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth R. Gile bought 1,374 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired at an average price of $18.23 per share, with a total value of $25,048.02. Following the acquisition, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders have sold 57,212 shares of company stock valued at $1,060,508 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in KEY. Beach Investment Management LLC. acquired a new stake in KeyCorp in the second quarter valued at $241,000. Atlantic Trust Group LLC acquired a new stake in KeyCorp in the second quarter valued at $307,000. Schroder Investment Management Group lifted its stake in KeyCorp by 318.8% in the second quarter. Schroder Investment Management Group now owns 271,790 shares of the financial services provider’s stock valued at $5,090,000 after acquiring an additional 206,890 shares during the last quarter. AXA lifted its stake in KeyCorp by 2.2% in the second quarter. AXA now owns 64,919 shares of the financial services provider’s stock valued at $1,217,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in KeyCorp by 1.9% in the second quarter. Alliancebernstein L.P. now owns 1,864,790 shares of the financial services provider’s stock valued at $34,946,000 after acquiring an additional 34,010 shares during the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.

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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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