Brokers Set Expectations for KeyCorp’s Q1 2017 Earnings (KEY)
KeyCorp (NYSE:KEY) – Jefferies Group issued their Q1 2017 EPS estimates for shares of KeyCorp in a report released on Tuesday. Jefferies Group analyst K. Usdin anticipates that the firm will post earnings per share of $0.26 for the quarter. Jefferies Group has a “Buy” rating and a $14.00 price target on the stock. Jefferies Group also issued estimates for KeyCorp’s Q2 2017 earnings at $0.31 EPS, Q3 2017 earnings at $0.34 EPS and Q4 2017 earnings at $0.35 EPS.
KEY has been the subject of a number of other research reports. Citigroup Inc. reissued a “buy” rating on shares of KeyCorp in a report on Wednesday, June 29th. JPMorgan Chase & Co. began coverage on KeyCorp in a report on Monday, July 25th. They set an “overweight” rating and a $14.00 target price for the company. Wedbush initiated coverage on KeyCorp in a report on Thursday, October 6th. They set an “outperform” rating and a $15.00 target price for the company. Morgan Stanley upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research report on Tuesday, July 5th. Finally, Barclays PLC restated a “sell” rating on shares of KeyCorp in a research report on Saturday, July 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $14.41.
Shares of KeyCorp (NYSE:KEY) opened at 12.52 on Thursday. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 12.95 and a beta of 1.21. The company’s 50 day moving average price is $12.39 and its 200-day moving average price is $11.97. KeyCorp has a 52 week low of $9.88 and a 52 week high of $14.01.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.27. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The firm earned $1.07 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.27 EPS. KeyCorp’s quarterly revenue was down .1% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. MSI Financial Services Inc raised its position in shares of KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock valued at $109,000 after buying an additional 860 shares during the last quarter. Wealthfront Inc. purchased a new position in shares of KeyCorp during the second quarter valued at about $123,000. Sigma Investment Management Co raised its position in shares of KeyCorp by 11.0% in the second quarter. Sigma Investment Management Co now owns 11,454 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,135 shares during the last quarter. Regentatlantic Capital LLC purchased a new position in shares of KeyCorp during the second quarter valued at about $134,000. Finally, Mizuho Asset Management Co. Ltd. raised its position in shares of KeyCorp by 84.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 12,341 shares of the financial services provider’s stock valued at $136,000 after buying an additional 5,639 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.
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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