Zacks: Brokerages Anticipate KeyCorp (NYSE:KEY) to Post $0.49 EPS
Brokerages predict that KeyCorp (NYSE:KEY) will announce earnings per share of $0.49 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for KeyCorp’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.50. KeyCorp posted earnings of $0.48 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The firm is expected to issue its next earnings report before the market opens on Thursday, January 23rd.
On average, analysts expect that KeyCorp will report full-year earnings of $1.67 per share for the current year, with EPS estimates ranging from $1.64 to $1.76. For the next year, analysts forecast that the company will post earnings of $1.87 per share, with EPS estimates ranging from $1.80 to $1.96. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow KeyCorp.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis.
Shares of NYSE:KEY traded down $0.33 during trading hours on Monday, hitting $19.06. 8,830,985 shares of the company’s stock traded hands, compared to its average volume of 10,430,639. KeyCorp has a 52 week low of $13.65 and a 52 week high of $19.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 0.91. The company’s fifty day simple moving average is $18.68 and its two-hundred day simple moving average is $17.53. The company has a market cap of $19.10 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 2.65 and a beta of 1.31.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, December 2nd. KeyCorp’s dividend payout ratio (DPR) is 42.77%.
In other news, Director Trina M. Evans sold 25,436 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $18.32, for a total value of $465,987.52. Following the completion of the sale, the director now directly owns 108,678 shares of the company’s stock, valued at $1,990,980.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Paul N. Harris sold 173,777 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $18.50, for a total transaction of $3,214,874.50. Following the completion of the sale, the general counsel now directly owns 78,811 shares of the company’s stock, valued at $1,458,003.50. The disclosure for this sale can be found here. Insiders sold 673,027 shares of company stock valued at $12,352,973 over the last three months. 0.08% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Thor Advisors LLC purchased a new stake in shares of KeyCorp in the third quarter worth approximately $34,000. Joseph P. Lucia & Associates LLC purchased a new stake in shares of KeyCorp in the third quarter worth approximately $35,000. Cordasco Financial Network bought a new position in KeyCorp during the third quarter valued at approximately $43,000. Manchester Financial Inc. bought a new position in KeyCorp during the second quarter valued at approximately $46,000. Finally, Coastal Capital Group Inc. bought a new position in KeyCorp during the second quarter valued at approximately $50,000. 80.64% of the stock is owned by institutional investors and hedge funds.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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