$1.56 Billion in Sales Expected for KeyCorp (KEY) This Quarter

Wall Street brokerages predict that KeyCorp (NYSE:KEY) will announce $1.56 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for KeyCorp’s earnings, with the lowest sales estimate coming in at $1.54 billion and the highest estimate coming in at $1.59 billion. KeyCorp reported sales of $1.50 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4%. The firm is expected to report its next earnings results on Thursday, April 19th.

According to Zacks, analysts expect that KeyCorp will report full-year sales of $1.56 billion for the current fiscal year, with estimates ranging from $6.36 billion to $6.54 billion. For the next year, analysts forecast that the firm will report sales of $6.72 billion per share, with estimates ranging from $6.57 billion to $6.86 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for KeyCorp.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter last year, the company earned $0.31 earnings per share.

Several equities research analysts recently issued reports on the company. Deutsche Bank raised KeyCorp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $23.00 to $24.00 in a research note on Thursday. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Sandler O’Neill reissued a “hold” rating and set a $21.50 price objective on shares of KeyCorp in a research note on Friday, January 19th. Vining Sparks reissued a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Finally, DA Davidson lifted their price objective on KeyCorp to $26.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the stock. KeyCorp has a consensus rating of “Buy” and an average price target of $22.07.

KeyCorp (NYSE KEY) traded up $0.16 during trading hours on Thursday, reaching $21.83. The company had a trading volume of 8,423,674 shares, compared to its average volume of 9,040,000. The company has a market capitalization of $23,480.00, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. KeyCorp has a 12 month low of $16.28 and a 12 month high of $21.88. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 1.92%. KeyCorp’s payout ratio is 37.50%.

In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the sale, the insider now owns 51,791 shares in the company, valued at $1,098,487.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth R. Gile purchased 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The shares were purchased at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The disclosure for this purchase can be found here. Company insiders own 0.65% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation increased its holdings in shares of KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after buying an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. purchased a new position in shares of KeyCorp in the third quarter worth about $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of KeyCorp in the third quarter worth about $145,000. Sun Life Financial INC increased its holdings in shares of KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after buying an additional 8,037 shares during the period. Finally, AllSquare Wealth Management LLC purchased a new position in shares of KeyCorp in the third quarter worth about $173,000. Institutional investors and hedge funds own 81.00% of the company’s stock.

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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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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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