KeyCorp (NYSE:KEY) Forecasted to Earn Q2 2024 Earnings of $0.26 Per Share

KeyCorp (NYSE:KEY) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for KeyCorp in a research note issued to investors on Friday, April 19th. DA Davidson analyst P. Winter forecasts that the financial services provider will earn $0.26 per share for the quarter. DA Davidson has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.17 per share. DA Davidson also issued estimates for KeyCorp’s FY2024 earnings at $1.13 EPS and FY2025 earnings at $1.63 EPS.

Several other analysts have also recently issued reports on KEY. Morgan Stanley upped their price target on shares of KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Evercore ISI increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Wells Fargo & Company lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods increased their price target on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Finally, Raymond James started coverage on KeyCorp in a report on Monday, January 8th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Trading Up 1.7 %

KEY opened at $14.63 on Monday. The stock has a market capitalization of $13.57 billion, a PE ratio of 18.52 and a beta of 1.29. The firm’s fifty day moving average price is $14.69 and its 200 day moving average price is $13.43. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.86. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share.

Institutional Investors Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bruce G. Allen Investments LLC acquired a new position in shares of KeyCorp in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC grew its position in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in shares of KeyCorp in the third quarter valued at $28,000. First United Bank & Trust acquired a new stake in shares of KeyCorp during the 4th quarter valued at $29,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of KeyCorp during the 4th quarter valued at $31,000. 79.69% of the stock is currently owned by institutional investors.

Insider Activity at KeyCorp

In related news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the sale, the director now owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock worth $303,914 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

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.