KeyCorp (NYSE:KEY) – Jefferies Group dropped their Q3 2017 EPS estimates for KeyCorp in a report released on Thursday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings per share of $0.35 for the quarter, down from their prior forecast of $0.36. Jefferies Group currently has a “Buy” rating and a $21.00 price target on the stock. Jefferies Group also issued estimates for KeyCorp’s Q4 2017 earnings at $0.36 EPS, FY2017 earnings at $1.39 EPS and FY2018 earnings at $1.50 EPS.

A number of other research analysts have also issued reports on KEY. Keefe, Bruyette & Woods set a $20.00 target price on shares of KeyCorp and gave the stock a “hold” rating in a research report on Saturday, June 24th. Piper Jaffray Companies restated a “buy” rating and set a $20.50 target price on shares of KeyCorp in a research report on Friday. BidaskClub upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. DA Davidson upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $21.00 in a research report on Thursday, July 20th. Finally, Instinet restated a “buy” rating and set a $23.00 target price on shares of KeyCorp in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $19.51.

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Shares of KeyCorp (NYSE KEY) opened at 18.30 on Monday. The company’s 50-day moving average price is $18.61 and its 200-day moving average price is $18.28. The firm has a market capitalization of $20.00 billion, a P/E ratio of 18.17 and a beta of 1.13. KeyCorp has a 52-week low of $11.35 and a 52-week high of $19.53.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 52.1% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, August 25th. KeyCorp’s payout ratio is 38.78%.

KeyCorp announced that its board has approved a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in KeyCorp by 3.4% in the first quarter. Vanguard Group Inc. now owns 107,188,420 shares of the financial services provider’s stock worth $1,905,811,000 after buying an additional 3,502,973 shares during the last quarter. BlackRock Inc. boosted its stake in KeyCorp by 3,258.1% in the first quarter. BlackRock Inc. now owns 84,413,892 shares of the financial services provider’s stock worth $1,500,878,000 after buying an additional 81,900,174 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in KeyCorp by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 42,783,161 shares of the financial services provider’s stock worth $760,682,000 after buying an additional 2,386,757 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in KeyCorp by 3.9% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 17,011,141 shares of the financial services provider’s stock worth $302,458,000 after buying an additional 636,778 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in KeyCorp by 5.5% in the first quarter. Geode Capital Management LLC now owns 10,693,438 shares of the financial services provider’s stock worth $189,862,000 after buying an additional 556,612 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

About KeyCorp

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.

Earnings History and Estimates for KeyCorp (NYSE:KEY)

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