Research Analysts Issue Forecasts for KeyCorp’s Q1 2020 Earnings (KEY)

KeyCorp (NYSE:KEY) – Investment analysts at Piper Jaffray Companies decreased their Q1 2020 earnings per share (EPS) estimates for shares of KeyCorp in a report issued on Tuesday, April 9th, Zacks Investment Research reports. Piper Jaffray Companies analyst K. Barker now expects that the financial services provider will earn $0.42 per share for the quarter, down from their prior forecast of $0.43.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.60 billion. KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share.

Several other equities analysts have also issued reports on KEY. Sandler O’Neill raised shares of KeyCorp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $16.50 to $19.00 in a report on Friday, January 11th. BMO Capital Markets lowered shares of KeyCorp from an “outperform” rating to a “market perform” rating and set a $17.00 price target on the stock. in a report on Friday, January 18th. Argus cut their price target on shares of KeyCorp from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, January 22nd. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Finally, Wedbush lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $16.63 price target on the stock. in a report on Monday, February 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.17.

KEY stock traded up $0.11 during trading on Friday, hitting $17.72. 10,710,453 shares of the company’s stock traded hands, compared to its average volume of 11,085,153. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.25 and a beta of 1.23. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98. KeyCorp has a 1 year low of $13.65 and a 1 year high of $21.91.

In other news, insider Angela G. Mago sold 4,162 shares of KeyCorp stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total transaction of $72,127.46. Following the completion of the sale, the insider now directly owns 128,464 shares in the company, valued at $2,226,281.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert A. Deangelis sold 31,166 shares of KeyCorp stock in a transaction on Friday, February 15th. The stock was sold at an average price of $17.37, for a total transaction of $541,353.42. Following the sale, the insider now owns 196,478 shares of the company’s stock, valued at $3,412,822.86. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of KEY. Boston Partners lifted its stake in shares of KeyCorp by 35.1% during the fourth quarter. Boston Partners now owns 41,244,050 shares of the financial services provider’s stock worth $609,586,000 after buying an additional 10,713,851 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of KeyCorp by 33.5% during the third quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock worth $719,551,000 after buying an additional 9,086,291 shares during the period. Norges Bank acquired a new stake in shares of KeyCorp during the fourth quarter worth $130,322,000. Capital World Investors acquired a new stake in shares of KeyCorp during the third quarter worth $157,529,000. Finally, Bank of Montreal Can lifted its stake in shares of KeyCorp by 52.4% during the fourth quarter. Bank of Montreal Can now owns 5,491,759 shares of the financial services provider’s stock worth $81,168,000 after buying an additional 1,888,517 shares during the period. Institutional investors and hedge funds own 82.56% of the company’s stock.

About KeyCorp

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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