KeyCorp (NYSE:KEY) – Equities researchers at Wedbush cut their Q2 2020 EPS estimates for shares of KeyCorp in a research note issued to investors on Monday, June 29th. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings of $0.11 per share for the quarter, down from their prior forecast of $0.17. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for KeyCorp’s Q3 2020 earnings at $0.18 EPS, Q1 2021 earnings at $0.24 EPS, Q2 2021 earnings at $0.28 EPS, Q3 2021 earnings at $0.34 EPS and FY2021 earnings at $1.24 EPS.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.06). The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.55 billion. KeyCorp had a return on equity of 10.43% and a net margin of 18.85%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS.

A number of other equities analysts have also recently weighed in on the stock. Bank of America cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Friday, April 17th. Morgan Stanley upped their price objective on KeyCorp from $14.00 to $15.25 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. Odeon Capital Group started coverage on KeyCorp in a report on Monday, June 8th. They set a “buy” rating and a $16.10 price target on the stock. Finally, Nomura Securities restated a “hold” rating and set a $10.00 price target on shares of KeyCorp in a report on Sunday, April 19th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. KeyCorp currently has a consensus rating of “Hold” and a consensus price target of $19.15.

NYSE:KEY opened at $11.87 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $11.47 billion, a P/E ratio of 8.73, a PEG ratio of 3.13 and a beta of 1.51. The company has a 50 day moving average price of $12.22 and a 200 day moving average price of $14.89. KeyCorp has a fifty-two week low of $7.45 and a fifty-two week high of $20.52.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Procyon Private Wealth Partners LLC increased its stake in KeyCorp by 77.2% in the 1st quarter. Procyon Private Wealth Partners LLC now owns 2,373 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,034 shares in the last quarter. Lionsbridge Wealth Management LLC purchased a new position in KeyCorp in the 4th quarter valued at about $28,000. Archer Investment Corp purchased a new position in KeyCorp in the 4th quarter valued at about $30,000. WASHINGTON TRUST Co acquired a new position in shares of KeyCorp during the 1st quarter valued at about $31,000. Finally, Bartlett & Co. LLC acquired a new position in shares of KeyCorp during the 1st quarter valued at about $32,000. 79.33% of the stock is owned by hedge funds and other institutional investors.

In other KeyCorp news, Director Ruth Ann M. Gillis purchased 4,485 shares of KeyCorp stock in a transaction dated Monday, April 20th. The stock was acquired at an average cost of $11.10 per share, with a total value of $49,783.50. Following the acquisition, the director now directly owns 19,911 shares of the company’s stock, valued at $221,012.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Christopher M. Gorman purchased 100,000 shares of KeyCorp stock in a transaction dated Friday, April 17th. The stock was acquired at an average cost of $10.36 per share, with a total value of $1,036,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 106,485 shares of company stock valued at $1,109,564 over the last three months. Insiders own 0.70% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.185 per share. The ex-dividend date was Monday, June 1st. This represents a $0.74 dividend on an annualized basis and a yield of 6.23%. KeyCorp’s payout ratio is 41.11%.

KeyCorp Company Profile

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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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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