KeyCorp (KEY) Expected to Earn Q3 2016 Earnings of $0.26 Per Share
KeyCorp (NYSE:KEY) – Equities researchers at Wedbush decreased their Q3 2016 EPS estimates for shares of KeyCorp in a research report issued to clients and investors on Wednesday. Wedbush analyst now anticipates that the firm will earn $0.26 per share for the quarter, down from their prior estimate of $0.27. Wedbush has a “Outperform” rating and a $15.00 price objective on the stock. Wedbush also issued estimates for KeyCorp’s FY2016 earnings at $0.99 EPS and FY2017 earnings at $1.17 EPS.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The firm earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share.
KEY has been the topic of a number of other reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of KeyCorp in a research note on Wednesday. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Vetr raised KeyCorp from a “buy” rating to a “strong-buy” rating and set a $14.14 target price on the stock in a research note on Thursday. Citigroup Inc. raised their target price on KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Finally, Nomura reissued a “buy” rating and issued a $12.00 target price on shares of KeyCorp in a research note on Sunday, July 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. KeyCorp has a consensus rating of “Buy” and a consensus price target of $14.41.
Shares of KeyCorp (NYSE:KEY) opened at 12.52 on Friday. The stock has a market capitalization of $13.55 billion, a P/E ratio of 12.95 and a beta of 1.21. KeyCorp has a 52 week low of $9.88 and a 52 week high of $14.01. The stock has a 50 day moving average price of $12.39 and a 200 day moving average price of $11.97.
Several large investors have recently modified their holdings of the stock. MSI Financial Services Inc increased its stake in shares of KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock worth $109,000 after buying an additional 860 shares during the last quarter. Wealthfront Inc. acquired a new stake in shares of KeyCorp during the second quarter worth about $123,000. Sigma Investment Management Co increased its stake in shares of KeyCorp by 11.0% in the second quarter. Sigma Investment Management Co now owns 11,454 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,135 shares during the last quarter. Regentatlantic Capital LLC acquired a new stake in shares of KeyCorp during the second quarter worth about $134,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in shares of KeyCorp by 84.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 12,341 shares of the financial services provider’s stock worth $136,000 after buying an additional 5,639 shares during the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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