KeyCorp Forecasted to Earn FY2019 Earnings of $1.84 Per Share (KEY)
KeyCorp (NYSE:KEY) – Wedbush issued their FY2019 earnings estimates for KeyCorp in a research report issued to clients and investors on Thursday. Wedbush analyst P. Winter expects that the financial services provider will earn $1.84 per share for the year.
KEY has been the topic of several other reports. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Morgan Stanley restated an “overweight” rating and issued a $23.00 price target on shares of KeyCorp in a research report on Thursday, December 14th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Citigroup raised their price target 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, Robert W. Baird restated a “hold” rating and issued a $18.00 price target on shares of KeyCorp in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $21.56.
Shares of KeyCorp (KEY) opened at $20.33 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06. The stock has a market cap of $21,862.88, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.66 and a beta of 1.10. KeyCorp has a 12-month low of $16.28 and a 12-month high of $20.59.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in KeyCorp by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after purchasing an additional 4,230,390 shares during the last quarter. BlackRock Inc. lifted its holdings in KeyCorp by 2.7% during the 2nd quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock valued at $1,624,654,000 after purchasing an additional 2,280,450 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in KeyCorp by 8.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock valued at $448,990,000 after purchasing an additional 1,765,263 shares during the last quarter. Boston Partners bought a new position in KeyCorp during the 3rd quarter valued at about $356,111,000. Finally, Northern Trust Corp lifted its holdings in KeyCorp by 1.9% during the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock valued at $232,925,000 after purchasing an additional 231,558 shares during the last quarter. 80.91% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Elizabeth R. Gile purchased 1,374 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was purchased at an average cost 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the transaction, the insider now directly owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock valued at $1,060,508 over the last ninety days. 0.65% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th were issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, November 27th. KeyCorp’s dividend payout ratio (DPR) is presently 36.84%.
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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.
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