KeyCorp (KEY) Set to Announce Quarterly Earnings on Thursday

KeyCorp (NYSE:KEY) is scheduled to announce its earnings results before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $0.23 per share for the quarter. Individual interested in registering for 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same period last year, the firm 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 Trading Down 1.3 %

Shares of KEY opened at $14.43 on Tuesday. The firm’s 50 day simple moving average is $14.65 and its 200 day simple moving average is $13.31. The company has a market capitalization of $13.38 billion, a P/E ratio of 16.21 and a beta of 1.29. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86.

Insider Buying and Selling

In other news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now directly owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Douglas M. Schosser sold 3,326 shares of the business’s 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 transaction, the chief accounting officer now directly owns 19,795 shares in the company, valued at approximately $277,130. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock valued at $303,914 over the last ninety days. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently modified their holdings of KEY. Point72 Hong Kong Ltd acquired a new position in KeyCorp during the 4th quarter worth about $31,000. Point72 Asset Management L.P. purchased a new position in shares of KeyCorp in the 2nd quarter valued at about $37,000. Canada Pension Plan Investment Board acquired a new stake in shares of KeyCorp in the 1st quarter valued at about $38,000. West Tower Group LLC acquired a new stake in shares of KeyCorp in the 4th quarter valued at about $42,000. Finally, Almanack Investment Partners LLC. acquired a new stake in KeyCorp during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KEY shares. The Goldman Sachs Group raised their target price on shares of KeyCorp from $13.50 to $15.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Keefe, Bruyette & Woods raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Barclays cut their price target on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, January 19th. Wells Fargo & Company lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.53.

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.