Zacks Research Estimates KeyCorp's Q2 Earnings (NYSE:KEY)

Key Points

• Zacks Research has downgraded KeyCorp's Q2 2027 earnings per share estimate from $0.45 to $0.44, while the full-year consensus estimate remains at $1.50 per share.
• KeyCorp reported a $0.35 EPS in its last quarter, beating expectations, with a revenue of $1.84 billion reflecting a year-over-year increase of 20.6%.
• Shares of KeyCorp were trading at $18.17, with analysts giving it an average rating of "Hold" and a target price of $20.53.

KeyCorp (NYSE:KEY - Free Report) - Zacks Research reduced their Q2 2027 earnings per share estimates for shares of KeyCorp in a report released on Wednesday, October 8th. Zacks Research analyst Team now anticipates that the financial services provider will earn $0.44 per share for the quarter, down from their previous estimate of $0.45. The consensus estimate for KeyCorp's current full-year earnings is $1.50 per share.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The business's revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS.

Several other equities analysts have also recently issued reports on KEY. Wells Fargo & Company raised their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, October 3rd. Morgan Stanley raised their price objective on KeyCorp from $20.00 to $24.00 and gave the stock an "underperform" rating in a research note on Monday, September 29th. Weiss Ratings restated a "hold (c)" rating on shares of KeyCorp in a research note on Wednesday. Citigroup reissued a "neutral" rating and set a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Finally, Baird R W cut shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $20.53.

KeyCorp Stock Performance

Shares of KEY opened at $18.17 on Friday. The business's fifty day moving average price is $18.59 and its 200 day moving average price is $17.01. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The stock has a market capitalization of $19.92 billion, a PE ratio of -259.57, a price-to-earnings-growth ratio of 0.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83.

Hedge Funds Weigh In On KeyCorp

Several institutional investors and hedge funds have recently bought and sold shares of KEY. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 last quarter. Norges Bank acquired a new position in shares of KeyCorp during the second quarter worth approximately $195,642,000. Vanguard Group Inc. increased its position in shares of KeyCorp by 7.2% during the first 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 during the period. HoldCo Asset Management LP bought a new stake in shares of KeyCorp during the second quarter valued at approximately $86,995,000. Finally, Wellington Management Group LLP increased its position in shares of KeyCorp by 1,142.4% during the first quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider's stock valued at $79,978,000 after purchasing an additional 4,599,197 shares during the period. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Buying and Selling

In related news, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director owned 82,719 shares of the company's stock, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the transaction, the chief executive officer directly owned 619,895 shares in the company, valued at $11,691,219.70. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,102 shares of company stock valued at $3,299,664. 0.52% of the stock is owned by corporate insiders.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.5%. KeyCorp's dividend payout ratio (DPR) is currently -1,171.43%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.