Analysts predict that KeyCorp (NYSE:KEY) will report $1.64 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for KeyCorp’s earnings, with the highest sales estimate coming in at $1.66 billion and the lowest estimate coming in at $1.63 billion. KeyCorp posted sales of $1.59 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, January 17th.
According to Zacks, analysts expect that KeyCorp will report full year sales of $6.41 billion for the current year, with estimates ranging from $6.38 billion to $6.44 billion. For the next fiscal year, analysts anticipate that the business will post sales of $6.60 billion, with estimates ranging from $6.47 billion to $6.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow KeyCorp.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 3.1% compared to the same quarter last year.
Shares of KEY stock traded up $0.20 on Friday, reaching $18.34. The company’s stock had a trading volume of 11,216,314 shares, compared to its average volume of 9,895,832. KeyCorp has a 1 year low of $16.48 and a 1 year high of $22.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $18.97 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.68 and a beta of 1.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 27th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, November 26th. This represents a $0.68 annualized dividend and a dividend yield of 3.71%. KeyCorp’s dividend payout ratio (DPR) is 50.00%.
In related news, Director Carlton L. Highsmith sold 6,963 shares of KeyCorp stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $18.37, for a total value of $127,910.31. Following the completion of the sale, the director now directly owns 68,088 shares in the company, valued at $1,250,776.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald R. Kimble bought 5,000 shares of KeyCorp stock in a transaction on Friday, November 2nd. The stock was purchased at an average price of $18.55 per share, with a total value of $92,750.00. Following the completion of the acquisition, the insider now directly owns 253,847 shares of the company’s stock, valued at approximately $4,708,861.85. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of KeyCorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 114,959,582 shares of the financial services provider’s stock worth $2,286,547,000 after buying an additional 1,604,187 shares during the period. JPMorgan Chase & Co. raised its stake in shares of KeyCorp by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock worth $719,551,000 after buying an additional 9,086,291 shares during the period. Boston Partners raised its stake in shares of KeyCorp by 5.3% during the 2nd quarter. Boston Partners now owns 27,717,101 shares of the financial services provider’s stock worth $541,592,000 after buying an additional 1,396,181 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of KeyCorp by 14.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,968,275 shares of the financial services provider’s stock worth $337,498,000 after buying an additional 2,198,538 shares during the period. Finally, FMR LLC raised its stake in shares of KeyCorp by 33.5% during the 3rd quarter. FMR LLC now owns 16,698,961 shares of the financial services provider’s stock worth $332,143,000 after buying an additional 4,186,177 shares during the period. 79.35% of the stock is owned by institutional investors.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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