Brokers Offer Predictions for KeyCorp’s Q2 2024 Earnings (NYSE:KEY)

KeyCorp (NYSE:KEY) – Equities research analysts at DA Davidson cut their Q2 2024 earnings estimates for shares of KeyCorp in a note issued to investors on Thursday, June 27th. DA Davidson analyst P. Winter now expects that the financial services provider will post earnings of $0.23 per share for the quarter, down from their previous forecast of $0.26. The consensus estimate for KeyCorp’s current full-year earnings is $1.13 per share. DA Davidson also issued estimates for KeyCorp’s FY2024 earnings at $1.08 EPS.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Argus boosted their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Evercore ISI decreased their price objective on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.38.

KeyCorp Stock Up 4.3 %

Shares of NYSE:KEY opened at $14.21 on Monday. KeyCorp has a one year low of $9.10 and a one year high of $15.86. The company has a 50 day moving average of $14.37 and a 200-day moving average of $14.47. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 0.72 and a beta of 1.28.

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

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date was Friday, May 24th. KeyCorp’s dividend payout ratio is presently 103.80%.

Institutional Trading of KeyCorp

Institutional investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp in the first quarter worth $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of KeyCorp in the fourth quarter worth $26,000. Sound Income Strategies LLC increased its holdings in KeyCorp by 3,600.0% during 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. Crewe Advisors LLC acquired a new position in KeyCorp during the first quarter worth $32,000. Finally, First United Bank & Trust acquired a new position in KeyCorp during the fourth quarter worth $29,000. Institutional investors own 79.69% of the company’s stock.

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.