Analysts Set Expectations for KeyCorp’s Q3 2016 Earnings (KEY)
KeyCorp (NYSE:KEY) – Research analysts at Wedbush cut their Q3 2016 earnings estimates for KeyCorp in a note issued to investors on Wednesday. Wedbush analyst now expects that the firm will post earnings per share of $0.26 for the quarter, down from their previous estimate of $0.27. Wedbush has a “Outperform” rating and a $15.00 price target on the stock. Wedbush also issued estimates for KeyCorp’s FY2016 earnings at $0.99 EPS and FY2017 earnings at $1.17 EPS.
KEY has been the subject of several other reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of KeyCorp in a research note on Wednesday. Zacks Investment Research upgraded KeyCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Citigroup Inc. raised their target price on KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. Nomura restated a “buy” rating and issued a $12.00 target price on shares of KeyCorp in a research note on Sunday, July 10th. Finally, Jefferies Group restated a “buy” rating on shares of KeyCorp in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $14.41.
Shares of KeyCorp (NYSE:KEY) traded up 1.30% during mid-day trading on Friday, hitting $12.47. The stock had a trading volume of 8,644,679 shares. The stock has a market capitalization of $13.49 billion, a P/E ratio of 12.90 and a beta of 1.21. KeyCorp has a 52 week low of $9.88 and a 52 week high of $14.01. The stock has a 50 day moving average of $12.38 and a 200-day moving average of $11.96.
KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS.
A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new stake in shares of KeyCorp during the second quarter worth $185,766,000. Renaissance Technologies LLC acquired a new stake in KeyCorp during the first quarter valued at approximately $30,658,000. Samlyn Capital LLC raised its stake in KeyCorp by 69.5% in the first quarter. Samlyn Capital LLC now owns 14,217,900 shares of the financial services provider’s stock valued at $156,966,000 after buying an additional 5,830,900 shares in the last quarter. Boston Advisors LLC raised its stake in KeyCorp by 3.4% in the second quarter. Boston Advisors LLC now owns 1,064,933 shares of the financial services provider’s stock valued at $11,768,000 after buying an additional 35,237 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in KeyCorp by 2.7% in the first quarter. Geode Capital Management LLC now owns 7,476,448 shares of the financial services provider’s stock valued at $82,386,000 after buying an additional 195,301 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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