KeyCorp (NYSE:KEY) – Analysts at Wedbush dropped their Q3 2017 earnings estimates for KeyCorp in a research report issued on Thursday. Wedbush analyst P. Winter now anticipates that the financial services provider will post earnings per share of $0.36 for the quarter, down from their previous estimate of $0.37. Wedbush also issued estimates for KeyCorp’s Q4 2017 earnings at $0.37 EPS, FY2017 earnings at $1.44 EPS, Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.42 EPS and FY2018 earnings at $1.56 EPS.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.53 billion. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The company’s revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS.
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Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods set a $20.00 price objective on shares of KeyCorp and gave the company a “hold” rating in a research report on Saturday, April 22nd. BidaskClub raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Piper Jaffray Companies reissued a “buy” rating and set a $20.50 price target on shares of KeyCorp in a research report on Friday, July 21st. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of KeyCorp in a research report on Saturday. Finally, Nomura reissued a “buy” rating and set a $23.00 price target on shares of KeyCorp in a research report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.78.
Shares of KeyCorp (KEY) opened at 18.48 on Monday. The stock’s 50 day moving average is $18.61 and its 200 day moving average is $18.28. The stock has a market cap of $20.19 billion, a P/E ratio of 18.35 and a beta of 1.13. KeyCorp has a 12 month low of $11.35 and a 12 month high of $19.53.
A number of large investors have recently bought and sold shares of KEY. Quadrature Capital Ltd bought a new stake in KeyCorp during the fourth quarter worth about $1,307,000. Brookfield Asset Management Inc. bought a new stake in KeyCorp during the fourth quarter worth about $1,690,000. Wealthfront Inc. boosted its stake in KeyCorp by 26.4% in the fourth quarter. Wealthfront Inc. now owns 21,592 shares of the financial services provider’s stock worth $394,000 after buying an additional 4,505 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in KeyCorp by 4.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,763,192 shares of the financial services provider’s stock worth $68,752,000 after buying an additional 151,531 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in KeyCorp during the fourth quarter worth about $343,000. Institutional investors own 80.96% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, August 25th. KeyCorp’s payout ratio is 38.78%.
KeyCorp announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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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