$1.64 Billion in Sales Expected for KeyCorp (NYSE:KEY) This Quarter

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Equities analysts expect that KeyCorp (NYSE:KEY) will post $1.64 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for KeyCorp’s earnings. The lowest sales estimate is $1.63 billion and the highest is $1.64 billion. KeyCorp reported sales of $1.60 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.5%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, October 17th.

On average, analysts expect that KeyCorp will report full-year sales of $6.42 billion for the current year, with estimates ranging from $6.38 billion to $6.44 billion. For the next year, analysts forecast that the firm will post sales of $6.54 billion, with estimates ranging from $6.43 billion to $6.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow KeyCorp.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. KeyCorp had a net margin of 23.15% and a return on equity of 12.82%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share.

KEY has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. ValuEngine raised shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Saturday, October 5th. Credit Suisse Group raised shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, August 7th. Piper Jaffray Companies set a $19.00 target price on shares of KeyCorp and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group increased their target price on shares of KeyCorp from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. KeyCorp presently has a consensus rating of “Hold” and an average target price of $23.58.

Shares of KEY stock traded up $0.28 on Friday, reaching $17.87. The company had a trading volume of 250,522 shares, compared to its average volume of 8,970,005. The stock has a market capitalization of $17.46 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 3.00 and a beta of 1.29. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.95. KeyCorp has a one year low of $13.65 and a one year high of $18.96. The business’s 50-day moving average is $17.31 and its 200 day moving average is $17.08.

In related news, insider Amy G. Brady sold 10,806 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $18.02, for a total value of $194,724.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Paine III sold 99,999 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the transaction, the insider now owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in KEY. Buckingham Capital Management Inc. acquired a new stake in KeyCorp during the 1st quarter valued at approximately $949,000. First Trust Advisors LP increased its position in KeyCorp by 45.1% during the 1st quarter. First Trust Advisors LP now owns 1,202,335 shares of the financial services provider’s stock valued at $18,937,000 after purchasing an additional 373,879 shares during the period. Private Advisor Group LLC increased its position in KeyCorp by 28.7% during the 1st quarter. Private Advisor Group LLC now owns 63,301 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 14,134 shares during the period. Hancock Whitney Corp increased its position in KeyCorp by 97.2% during the 1st quarter. Hancock Whitney Corp now owns 103,393 shares of the financial services provider’s stock valued at $1,628,000 after purchasing an additional 50,960 shares during the period. Finally, GWM Advisors LLC increased its position in KeyCorp by 33.5% during the 1st quarter. GWM Advisors LLC now owns 79,738 shares of the financial services provider’s stock valued at $1,256,000 after purchasing an additional 20,025 shares during the period. 80.08% of the stock is owned by institutional investors and hedge funds.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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