Brokerages expect KeyCorp (NYSE:KEY) to report sales of $1.65 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for KeyCorp’s earnings, with the highest sales estimate coming in at $1.67 billion and the lowest estimate coming in at $1.64 billion. KeyCorp reported sales of $1.60 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, October 17th.
On average, analysts expect that KeyCorp will report full-year sales of $6.45 billion for the current year, with estimates ranging from $6.43 billion to $6.49 billion. For the next fiscal year, analysts forecast that the business will post sales of $6.65 billion, with estimates ranging from $6.44 billion to $6.93 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow KeyCorp.
KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. KeyCorp had a net margin of 23.15% and a return on equity of 12.82%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year.
Shares of NYSE KEY traded down $0.65 on Friday, hitting $16.00. The company’s stock had a trading volume of 4,131,838 shares, compared to its average volume of 8,808,197. KeyCorp has a 12-month low of $13.65 and a 12-month high of $21.91. The stock has a market cap of $15.96 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 2.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.91 and a quick ratio of 0.89. The company has a 50 day simple moving average of $17.61.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a dividend of $0.185 per share. This is a positive change from KeyCorp’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, August 26th. This represents a $0.74 annualized dividend and a yield of 4.63%. KeyCorp’s dividend payout ratio is 39.31%.
In other KeyCorp news, insider Andrew J. Paine III sold 99,999 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the sale, the insider now directly owns 85,469 shares in the company, valued at $1,560,663.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Amy G. Brady sold 13,238 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $17.00, for a total transaction of $225,046.00. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hartford Investment Management Co. boosted its stake in KeyCorp by 0.4% during the 2nd quarter. Hartford Investment Management Co. now owns 156,120 shares of the financial services provider’s stock valued at $2,771,000 after acquiring an additional 564 shares during the last quarter. Stanley Laman Group Ltd. boosted its stake in KeyCorp by 0.7% during the 1st quarter. Stanley Laman Group Ltd. now owns 83,786 shares of the financial services provider’s stock valued at $1,320,000 after acquiring an additional 586 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in KeyCorp by 2.6% during the 2nd quarter. Wetherby Asset Management Inc. now owns 24,712 shares of the financial services provider’s stock valued at $439,000 after acquiring an additional 619 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of KeyCorp by 10.0% during the first quarter. Rehmann Capital Advisory Group now owns 7,012 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 640 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of KeyCorp by 50.7% during the first quarter. Global Retirement Partners LLC now owns 1,989 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 669 shares during the period. Institutional investors own 80.36% of the company’s stock.
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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