Brokers expect KeyCorp (NYSE:KEY) to post quarterly sales of $1.76 billion
Equity research analysts expect KeyCorp (NYSE: KEY – Get Rating) to post sales of $1.76 billion for the current fiscal quarter, Zacks reports. Five analysts have released earnings estimates for KeyCorp, with the highest sales estimate at $1.79 billion and the lowest estimate at $1.72 billion. KeyCorp posted sales of $1.74 billion in the same quarter last year, indicating a positive year-over-year growth rate of 1.1%. The company is expected to release its next results before the market opens on Monday, January 1.
On average, analysts expect KeyCorp to report annual revenue of $7.32 billion for the current year, with estimates ranging from $7.26 billion to $7.38 billion. dollars. For the next fiscal year, analysts expect the company to register sales of $7.69 billion, with estimates ranging from $7.46 billion to $7.85 billion. Zacks sales calculations are an average average based on a survey of sell-side research analysts who follow KeyCorp.
KeyCorp (NYSE:KEY – Get Rating) last announced its results on Thursday, January 20. The financial services provider reported earnings per share of $0.64 for the quarter, beating the consensus estimate of $0.57 by $0.07. KeyCorp had a net margin of 33.32% and a return on equity of 15.93%. The company posted revenue of $1.95 billion in the quarter, versus a consensus estimate of $1.80 billion. In the same quarter of the previous year, the company had earned earnings per share of $0.56. The company’s quarterly revenue increased 5.5% compared to the same quarter last year.
KEY has been the subject of several research reports. StockNews.com launched coverage on KeyCorp shares in a research report on Thursday. They set a “hold” rating for the company. Zacks Investment Research upgraded KeyCorp shares from a “hold” rating to a “strong-buy” rating and set a price target of $28.00 for the company in a Friday, January 28 research report. Piper Sandler cut her price target on KeyCorp shares from $27.00 to $26.00 and set a “neutral” rating for the company in a Wednesday, March 2 research report. Wells Fargo & Company downgraded shares of KeyCorp to an “equal weight” rating and set a price target of $29.00 for the company. in a research report on Thursday, December 16. Finally, UBS Group began covering KeyCorp shares in a research note on Wednesday, January 12. They set a “buy” rating and a price target of $32.00 for the company. Six equity research analysts gave the stock a hold rating, eight issued a buy rating and one gave the company a high buy rating. According to MarketBeat.com, the stock currently has an average buy rating and an average price target of $27.35.
In other KeyCorp news, Director Carlton L. Highsmith sold 5,362 shares of the company in a trade on Monday, March 7. The shares were sold at an average price of $22.86, for a total value of $122,575.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.56% of the shares of the company.
Several institutional investors and hedge funds have recently increased or reduced their stake in the company. Goldman Sachs Group Inc. increased its position in KeyCorp shares by 306.2% during the third quarter. Goldman Sachs Group Inc. now owns 13,950,902 shares of the financial services provider valued at $301,618,000 after buying an additional 10,516,305 shares in the last quarter. Norges Bank purchased a new equity stake in KeyCorp during Q4, valued at approximately $181,634,000. Capital International Investors increased its position in KeyCorp shares by 8.6% during the 4th quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider valued at $1,924,458,000 after purchasing an additional 6,586,364 shares in the last quarter. Balyasny Asset Management LLC increased its position in KeyCorp shares by 4,070.9% during the 3rd quarter. Balyasny Asset Management LLC now owns 5,930,163 shares of the financial services provider valued at $128,210,000 after purchasing an additional 5,787,985 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in KeyCorp shares by 213.9% during the 4th quarter. JPMorgan Chase & Co. now owns 7,238,492 shares of the financial services provider valued at $167,426,000 after buying an additional 4,932,777 shares in the last quarter. 82.83% of the shares are held by institutional investors.
NYSE:KEY shares opened at $21.66 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt ratio of 0.78. The company has a market capitalization of $19.93 billion, a P/E ratio of 8.24, a PEG ratio of 0.59 and a beta of 1.35. KeyCorp has a 52-week low of $17.90 and a 52-week high of $27.17. The company has a 50-day moving average price of $24.55 and a 200-day moving average price of $23.76.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15. Shareholders of record on Tuesday, March 1 received a dividend of $0.195. The ex-dividend date was Monday, February 28. This represents a dividend of $0.78 on an annualized basis and a yield of 3.60%. KeyCorp’s dividend payout ratio is currently 29.66%.
KeyCorp Company Profile (Get a rating)
KeyCorp operates as a bank holding company, which engages in the provision of financial services. It offers a range of retail and commercial banking, commercial leasing, investment management, consumer credit, student loan refinancing, commercial mortgage and special services, and mortgage products and services. investment banking to individuals, businesses and institutional clients.
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