KeyCorp (NYSE:KEY) Expected to Earn Q2 2024 Earnings of $0.26 Per Share

KeyCorp (NYSE:KEY) – Stock analysts at DA Davidson issued their Q2 2024 earnings estimates for KeyCorp in a research report issued on Friday, April 19th. DA Davidson analyst P. Winter forecasts that the financial services provider will post earnings of $0.26 per share for the quarter. DA Davidson has a “Buy” rating and a $16.00 price objective on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.17 per share. DA Davidson also issued estimates for KeyCorp’s FY2024 earnings at $1.13 EPS and FY2025 earnings at $1.63 EPS.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS.

A number of other research firms have also recently issued reports on KEY. Barclays cut their target price on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, January 19th. JPMorgan Chase & Co. raised their target price on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Wells Fargo & Company raised their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Evercore ISI raised their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Raymond James started coverage on KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Stock Performance

KEY stock opened at $14.73 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 18.64 and a beta of 1.29. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86. The stock’s fifty day moving average is $14.72 and its two-hundred day moving average is $13.49.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently made changes to their positions in KEY. CWM LLC grew its stake in shares of KeyCorp by 35.5% in the 3rd quarter. CWM LLC now owns 50,138 shares of the financial services provider’s stock valued at $539,000 after buying an additional 13,144 shares in the last quarter. Ronald Blue Trust Inc. grew its stake in shares of KeyCorp by 260.5% in the 3rd quarter. Ronald Blue Trust Inc. now owns 10,014 shares of the financial services provider’s stock valued at $108,000 after buying an additional 7,236 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of KeyCorp by 17.1% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 13,909 shares of the financial services provider’s stock valued at $150,000 after buying an additional 2,035 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $775,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $346,000. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the transaction, the insider now owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the sale, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,442 shares of company stock worth $303,914. 0.67% of the stock is owned by corporate insiders.

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.