KeyCorp (NYSE:KEY) Issues Quarterly Earnings Results

KeyCorp (NYSE:KEY) released its earnings results on Tuesday. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05, FiscalAI reports. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%.

KeyCorp Stock Performance

Shares of KEY stock opened at $19.91 on Tuesday. KeyCorp has a 12-month low of $16.91 and a 12-month high of $24.07. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08. The business has a 50 day simple moving average of $21.21 and a 200 day simple moving average of $21.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore restated an “outperform” rating and issued a $24.00 price target on shares of KeyCorp in a research report on Thursday, October 1st. Royal Bank Of Canada boosted their price objective on shares of KeyCorp from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of KeyCorp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Robert W. Baird increased their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group cut their target price on shares of KeyCorp from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.33.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.