Q3 2022 EPS Estimates for KeyCorp (NYSE:KEY) Lifted by Analyst

KeyCorp (NYSE:KEYGet Rating) – Equities researchers at Wedbush raised their Q3 2022 earnings per share estimates for KeyCorp in a note issued to investors on Friday, April 22nd. Wedbush analyst P. Winter now anticipates that the financial services provider will earn $0.61 per share for the quarter, up from their previous forecast of $0.56. Wedbush also issued estimates for KeyCorp’s Q1 2023 earnings at $0.53 EPS and Q3 2023 earnings at $0.65 EPS.

KeyCorp (NYSE:KEYGet Rating) last issued its earnings results on Thursday, April 21st. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). KeyCorp had a net margin of 31.30% and a return on equity of 15.42%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $0.61 earnings per share. KeyCorp’s revenue was down 3.1% on a year-over-year basis.

Several other analysts have also weighed in on KEY. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, January 28th. Morgan Stanley decreased their target price on shares of KeyCorp from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. Credit Suisse Group upgraded shares of KeyCorp from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 8th. Wells Fargo & Company upgraded shares of KeyCorp from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $23.00 to $27.00 in a research report on Monday, April 11th. Finally, Odeon Capital Group upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, January 7th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $27.19.

Shares of KeyCorp stock opened at $20.71 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 0.78. The firm’s 50-day simple moving average is $23.09 and its 200-day simple moving average is $23.75. KeyCorp has a twelve month low of $17.90 and a twelve month high of $27.17. The firm has a market cap of $19.06 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 0.53 and a beta of 1.32.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Asset Management LLC bought a new stake in shares of KeyCorp during the third quarter worth approximately $27,000. DeDora Capital Inc. bought a new stake in shares of KeyCorp during the first quarter worth approximately $28,000. Farmers & Merchants Investments Inc. raised its stake in shares of KeyCorp by 141.6% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,244 shares of the financial services provider’s stock worth $29,000 after buying an additional 729 shares during the last quarter. Kings Point Capital Management bought a new stake in shares of KeyCorp during the third quarter worth approximately $27,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of KeyCorp during the third quarter worth approximately $28,000. 82.83% of the stock is owned by institutional investors and hedge funds.

In other KeyCorp news, Director Carlton L. Highsmith sold 5,362 shares of the business’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $22.86, for a total value of $122,575.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.54% of the company’s stock.

KeyCorp Company Profile (Get Rating)

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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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