KeyCorp (NYSE:KEY) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of KeyCorp (NYSE:KEY) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on KEY. Royal Bank Of Canada raised their target price on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Weiss Ratings lowered shares of KeyCorp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. cut their price target on shares of KeyCorp from $24.50 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Morgan Stanley increased their price target on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.33.

KeyCorp Stock Performance

NYSE KEY opened at $19.91 on Friday. The business’s 50-day moving average price is $21.21 and its 200 day moving average price is $21.83. KeyCorp has a twelve month low of $16.91 and a twelve month high of $24.07. The company has a market capitalization of $21.24 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company earned $0.35 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts predict that KeyCorp will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds have recently made changes to their positions in KEY. N.E.W. Advisory Services LLC purchased a new position in KeyCorp in the second quarter valued at about $30,000. Silvant Capital Management LLC acquired a new position in shares of KeyCorp during the second quarter worth about $30,000. Keating Financial Advisory Services Inc. acquired a new position in shares of KeyCorp during the second quarter worth about $31,000. GK Wealth Management LLC purchased a new stake in shares of KeyCorp in the third quarter worth about $30,000. Finally, Trust Co. of Vermont purchased a new stake in shares of KeyCorp in the second quarter worth about $44,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.