KeyCorp (KEY) Set to Announce Quarterly Earnings on Thursday

KeyCorp (NYSE:KEY) will post its quarterly earnings results before the market opens on Thursday, April 18th. Analysts expect KeyCorp to post earnings of $0.23 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $0.38 earnings per share. On average, analysts expect KeyCorp to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

KeyCorp Stock Performance

KEY opened at $14.22 on Wednesday. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The company has a market cap of $13.18 billion, a P/E ratio of 15.97 and a beta of 1.29. The firm’s 50-day moving average price is $14.65 and its 200-day moving average price is $13.34.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wedbush cut their price objective on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Jefferies Financial Group upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 20th. Barclays dropped their target price on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, January 19th. Finally, Evercore ISI upped their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.53.

Insider Activity

In related news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at approximately $277,130. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at approximately $277,130. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock worth $303,914 in the last quarter. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently modified their holdings of KEY. Wells Fargo & Company MN increased its position in shares of KeyCorp by 324.7% during the 2nd quarter. Wells Fargo & Company MN now owns 14,316,581 shares of the financial services provider’s stock worth $132,285,000 after purchasing an additional 10,945,274 shares during the last quarter. BlackRock Inc. boosted its holdings in KeyCorp by 10.3% during the 1st quarter. BlackRock Inc. now owns 89,759,881 shares of the financial services provider’s stock valued at $1,123,794,000 after acquiring an additional 8,391,787 shares during the period. Norges Bank purchased a new position in KeyCorp during the 4th quarter valued at about $134,162,000. Goldman Sachs Group Inc. boosted its holdings in KeyCorp by 140.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 9,698,780 shares of the financial services provider’s stock valued at $89,617,000 after acquiring an additional 5,659,750 shares during the period. Finally, Barclays PLC boosted its stake in shares of KeyCorp by 84.2% in the 4th quarter. Barclays PLC now owns 5,615,141 shares of the financial services provider’s stock valued at $80,860,000 after buying an additional 2,566,968 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.