KeyCorp (KEY) Forecasted to Post FY2016 Earnings of $0.91 Per Share
KeyCorp (NYSE:KEY) – Stock analysts at Wedbush reduced their FY2016 earnings per share estimates for shares of KeyCorp in a research note issued on Monday. Wedbush analyst now forecasts that the firm will post earnings of $0.91 per share for the year, down from their previous estimate of $1.11. Wedbush has a “Outperform” rating and a $16.00 price objective on the stock.
KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, October 25th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. KeyCorp had a return on equity of 8.44% and a net margin of 15.72%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS.
Other research analysts have also issued research reports about the company. Citigroup Inc. increased their price target on KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded KeyCorp from a “strong sell” rating to a “hold” rating in a report on Monday, August 1st. Piper Jaffray Cos. lowered KeyCorp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $14.50 to $13.00 in a report on Monday, August 29th. FBR & Co increased their price target on KeyCorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, October 25th. Finally, Susquehanna lowered KeyCorp from a “positive” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $15.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. KeyCorp has a consensus rating of “Buy” and an average price target of $14.48.
KeyCorp (NYSE:KEY) opened at 15.79 on Thursday. KeyCorp has a 12-month low of $9.88 and a 12-month high of $16.04. The company’s 50 day moving average price is $13.19 and its 200-day moving average price is $12.31. The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of 18.19 and a beta of 1.00.
Large investors have recently bought and sold shares of the stock. Exxonmobil Investment Management Inc. TX raised its stake in KeyCorp by 7.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 218,048 shares of the financial services provider’s stock valued at $2,409,000 after buying an additional 14,598 shares in the last quarter. Park National Corp OH raised its stake in KeyCorp by 16.3% in the second quarter. Park National Corp OH now owns 64,747 shares of the financial services provider’s stock valued at $715,000 after buying an additional 9,070 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in KeyCorp during the first quarter valued at about $2,031,000. Seven Eight Capital LLC acquired a new stake in KeyCorp during the first quarter valued at about $1,808,000. Finally, Endeavour Capital Advisors Inc. raised its stake in KeyCorp by 174.2% in the first quarter. Endeavour Capital Advisors Inc. now owns 1,263,355 shares of the financial services provider’s stock valued at $13,947,000 after buying an additional 802,676 shares in the last quarter. 65.71% of the stock is 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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