Q3 2024 EPS Estimates for KeyCorp (NYSE:KEY) Reduced by Zacks Research

KeyCorp (NYSE:KEY) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for shares of KeyCorp in a research note issued to investors on Thursday, August 22nd. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $0.27 per share for the quarter, down from their previous estimate of $0.28. The consensus estimate for KeyCorp’s current full-year earnings is $1.09 per share. Zacks Research also issued estimates for KeyCorp’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.08 EPS, Q1 2025 earnings at $0.34 EPS, Q2 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.41 EPS, FY2025 earnings at $1.50 EPS and FY2026 earnings at $1.76 EPS.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a research note on Tuesday, August 13th. Evercore ISI cut their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Wedbush raised their price target on KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group raised their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.65.

KeyCorp Stock Down 0.4 %

Shares of KeyCorp stock opened at $16.67 on Monday. The stock has a 50-day moving average price of $15.20 and a 200 day moving average price of $14.81. The company has a market cap of $15.72 billion, a P/E ratio of 21.10, a P/E/G ratio of 0.91 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.20.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s dividend payout ratio is 103.80%.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC grew its holdings in shares of KeyCorp by 1.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 704 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of KeyCorp by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 724 shares in the last quarter. Caldwell Sutter Capital Inc. grew its holdings in shares of KeyCorp by 3.7% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 742 shares in the last quarter. Czech National Bank grew its holdings in shares of KeyCorp by 0.5% during the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after purchasing an additional 788 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of KeyCorp by 1.7% during the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after purchasing an additional 837 shares in the last quarter. Institutional investors and hedge funds 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.