KeyCorp (NYSE:KEY) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

KeyCorp (NYSE:KEY) posted its earnings results on Tuesday. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05, FiscalAI reports. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.05 billion.

KeyCorp Trading Down 0.4%

Shares of KEY stock opened at $19.91 on Tuesday. KeyCorp has a 12-month low of $16.91 and a 12-month high of $24.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $21.21 and its 200 day moving average is $21.83. The stock has a market capitalization of $21.24 billion, a P/E ratio of 11.57, a P/E/G ratio of 0.75 and a beta of 1.08.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KEY. Jefferies Financial Group lowered their price objective on KeyCorp from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. Stephens reaffirmed an “overweight” rating and set a $26.00 target price on shares of KeyCorp in a research report on Tuesday, September 15th. Morgan Stanley lifted their price objective on shares of KeyCorp from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Argus raised KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $28.00 price objective on shares of KeyCorp in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.33.

About KeyCorp

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.