Zacks: Analysts Expect KeyCorp (KEY) Will Announce Quarterly Sales of $1.56 Billion

Analysts expect KeyCorp (NYSE:KEY) to post sales of $1.56 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for KeyCorp’s earnings. The lowest sales estimate is $1.54 billion and the highest is $1.59 billion. KeyCorp reported sales of $1.50 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, April 19th.

On average, analysts expect that KeyCorp will report full year sales of $1.56 billion for the current year, with estimates ranging from $6.36 billion to $6.54 billion. For the next financial year, analysts forecast that the firm will report sales of $6.71 billion per share, with estimates ranging from $6.57 billion to $6.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover KeyCorp.

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KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $0.31 EPS.

Several brokerages have recently commented on KEY. CIBC reiterated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Thursday, December 14th. Vining Sparks reiterated a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a research report on Thursday, January 18th. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, December 26th. Finally, Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.07.

In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of KeyCorp stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $20.97, for a total transaction of $1,175,116.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert A. Deangelis sold 25,000 shares of KeyCorp stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total value of $527,750.00. Following the sale, the insider now directly owns 175,053 shares in the company, valued at approximately $3,695,368.83. The disclosure for this sale can be found here. Insiders have sold a total of 92,857 shares of company stock valued at $1,953,548 in the last 90 days. Insiders own 0.65% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Mycio Wealth Partners LLC raised its stake in KeyCorp by 17.1% during the 4th quarter. Mycio Wealth Partners LLC now owns 17,116 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 2,500 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in KeyCorp by 2.6% during the 4th quarter. New Mexico Educational Retirement Board now owns 104,487 shares of the financial services provider’s stock valued at $2,108,000 after acquiring an additional 2,600 shares in the last quarter. MML Investors Services LLC raised its stake in KeyCorp by 17.3% during the 4th quarter. MML Investors Services LLC now owns 18,561 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 2,744 shares in the last quarter. Dividend Assets Capital LLC raised its stake in shares of KeyCorp by 11.7% in the 4th quarter. Dividend Assets Capital LLC now owns 27,335 shares of the financial services provider’s stock worth $551,000 after buying an additional 2,860 shares in the last quarter. Finally, Mcmillion Capital Management Inc. raised its stake in shares of KeyCorp by 2.0% in the 4th quarter. Mcmillion Capital Management Inc. now owns 162,591 shares of the financial services provider’s stock worth $3,279,000 after buying an additional 3,120 shares in the last quarter. 81.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KeyCorp stock traded down $0.98 on Friday, hitting $19.04. The stock had a trading volume of 15,182,168 shares, compared to its average volume of 10,303,995. The firm has a market cap of $22,242.61, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. KeyCorp has a one year low of $16.28 and a one year high of $22.40.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Tuesday, February 27th were given a dividend of $0.105 per share. The ex-dividend date was Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 2.21%. KeyCorp’s dividend payout ratio is currently 37.50%.

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About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

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