Brokerages expect that KeyCorp (NYSE:KEY - Get Rating) will announce sales of $1.81 billion for the current quarter, according to Zacks. Five analysts have made estimates for KeyCorp's earnings. The lowest sales estimate is $1.78 billion and the highest is $1.86 billion. KeyCorp reported sales of $1.77 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that KeyCorp will report full-year sales of $7.33 billion for the current financial year, with estimates ranging from $7.25 billion to $7.41 billion. For the next year, analysts forecast that the business will report sales of $7.82 billion, with estimates ranging from $7.73 billion to $7.89 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research analysts that cover KeyCorp.
KeyCorp (NYSE:KEY - Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). KeyCorp had a net margin of 31.30% and a return on equity of 15.42%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business earned $0.61 EPS. The firm's revenue for the quarter was down 3.1% on a year-over-year basis.
Several equities research analysts have commented on KEY shares. StockNews.com began coverage on KeyCorp in a research note on Thursday, March 31st. They set a "hold" rating for the company. Zacks Investment Research raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating and set a $28.00 price target for the company in a research report on Friday, January 28th. The Goldman Sachs Group decreased their price objective on shares of KeyCorp from $30.00 to $27.00 and set a "buy" rating for the company in a report on Friday, April 22nd. Jefferies Financial Group cut KeyCorp from a "buy" rating to a "hold" rating in a research note on Monday, April 11th. Finally, Piper Sandler cut KeyCorp from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $23.00 to $20.50 in a research note on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $26.31.
NYSE:KEY opened at $18.62 on Friday. The firm has a market cap of $17.36 billion, a PE ratio of 7.54, a P/E/G ratio of 0.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.78 and a quick ratio of 0.78. KeyCorp has a 1-year low of $17.90 and a 1-year high of $27.17. The firm has a 50 day simple moving average of $21.51 and a 200-day simple moving average of $23.35.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.19%. KeyCorp's payout ratio is 31.58%.
In related news, Director Carlton L. Highsmith sold 5,362 shares of the stock in a transaction on Monday, March 7th. The stock was sold at an average price of $22.86, for a total value of $122,575.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Kings Point Capital Management purchased a new stake in shares of KeyCorp in the 3rd quarter valued at about $27,000. Jones Financial Companies Lllp purchased a new position in shares of KeyCorp in the third quarter worth $28,000. DeDora Capital Inc. purchased a new stake in KeyCorp during the first quarter valued at $28,000. Farmers & Merchants Investments Inc. increased its position in KeyCorp by 141.6% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,244 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 729 shares during the last quarter. Finally, Spectrum Management Group LLC bought a new stake in KeyCorp during the first quarter valued at about $35,000. Institutional investors and hedge funds own 83.24% of the company's stock.
About KeyCorp (Get Rating)
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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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