$1.59 Billion in Sales Expected for KeyCorp (NYSE:KEY) This Quarter

Brokerages expect KeyCorp (NYSE:KEY) to report $1.59 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for KeyCorp’s earnings. The highest sales estimate is $1.65 billion and the lowest is $1.54 billion. KeyCorp reported sales of $1.60 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.6%. The company is expected to issue its next earnings results before the market opens on Wednesday, July 22nd.

On average, analysts expect that KeyCorp will report full year sales of $6.37 billion for the current year, with estimates ranging from $6.23 billion to $6.64 billion. For the next fiscal year, analysts expect that the firm will post sales of $6.46 billion, with estimates ranging from $6.27 billion to $6.60 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover KeyCorp.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). KeyCorp had a net margin of 18.85% and a return on equity of 10.43%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis.

Several equities analysts have recently commented on the stock. TheStreet downgraded shares of KeyCorp from a “b” rating to a “c+” rating in a research note on Wednesday, March 11th. Morgan Stanley upped their price objective on shares of KeyCorp from $14.00 to $15.25 and gave the company an “equal weight” rating in a research note on Monday, June 8th. Deutsche Bank lowered their price objective on shares of KeyCorp from $20.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, April 2nd. CIBC lowered their price objective on shares of KeyCorp from $45.00 to $44.00 and set an “outperformer” rating for the company in a research note on Friday, February 28th. Finally, UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. KeyCorp currently has a consensus rating of “Hold” and a consensus target price of $19.15.

In other news, Director Ruth Ann M. Gillis purchased 4,485 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were purchased at an average price of $11.10 per share, for a total transaction of $49,783.50. Following the completion of the acquisition, the director now directly owns 19,911 shares in the company, valued at approximately $221,012.10. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Christopher M. Gorman purchased 100,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were purchased at an average price of $10.36 per share, for a total transaction of $1,036,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 106,485 shares of company stock worth $1,109,564. Corporate insiders own 0.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. Procyon Private Wealth Partners LLC purchased a new stake in KeyCorp in the fourth quarter worth approximately $27,000. Lionsbridge Wealth Management LLC purchased a new stake in KeyCorp in the fourth quarter worth approximately $28,000. Archer Investment Corp purchased a new stake in KeyCorp in the fourth quarter worth approximately $30,000. Verus Capital Partners LLC purchased a new stake in KeyCorp in the fourth quarter worth approximately $34,000. Finally, Keebeck Wealth Management LLC purchased a new stake in KeyCorp in the fourth quarter worth approximately $51,000. Hedge funds and other institutional investors own 79.33% of the company’s stock.

Shares of NYSE:KEY traded down $1.15 during midday trading on Friday, hitting $11.76. 15,755,194 shares of the stock traded hands, compared to its average volume of 15,051,680. The stock has a market capitalization of $12.59 billion, a PE ratio of 8.65, a P/E/G ratio of 3.44 and a beta of 1.51. The business’s 50 day moving average is $12.16 and its two-hundred day moving average is $15.05. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.89. KeyCorp has a one year low of $7.45 and a one year high of $20.52.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date was Monday, June 1st. KeyCorp’s dividend payout ratio (DPR) is presently 41.11%.

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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