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. Investors that are interested in participating in the company’s conference call can do so using this link.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business 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 Price Performance

KeyCorp stock opened at $14.43 on Tuesday. The company has a fifty day simple moving average of $14.65 and a 200-day simple moving average of $13.31. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 16.21 and a beta of 1.29. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore ISI increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Wedbush dropped their price target on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Jefferies Financial Group lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average price target of $15.53.

Insider Activity

In related news, insider Angela G. Mago sold 3,405 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction that occurred on 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 owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last 90 days. 0.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KeyCorp

Large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in KeyCorp in the fourth quarter worth $31,000. Point72 Asset Management L.P. acquired a new position in shares of KeyCorp during the second quarter valued at $37,000. Canada Pension Plan Investment Board acquired a new position in shares of KeyCorp during the first quarter valued at $38,000. West Tower Group LLC acquired a new position in shares of KeyCorp during the fourth quarter valued at $42,000. Finally, Almanack Investment Partners LLC. acquired a new position in KeyCorp during the third quarter worth about $45,000. 79.69% of the stock is currently owned by institutional investors.

About KeyCorp

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.