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

Analysts predict that KeyCorp (NYSE:KEY) will post sales of $1.56 billion for the current quarter, according to Zacks. Six analysts have issued estimates for KeyCorp’s earnings. The highest sales estimate is $1.59 billion and the lowest is $1.54 billion. KeyCorp posted sales of $1.50 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The firm is expected to report its next earnings report 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 fiscal year, with estimates ranging from $6.36 billion to $6.54 billion. For the next year, analysts anticipate that the company will post sales of $6.71 billion per share, with estimates ranging from $6.57 billion to $6.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow KeyCorp.

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

Several equities analysts recently commented on the stock. Vining Sparks reiterated a “buy” rating and set a $25.00 price target on shares of KeyCorp in a report on Friday. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $23.00 price target on shares of KeyCorp in a report on Thursday. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Monday. Finally, Deutsche Bank upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $23.00 to $24.00 in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.14.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB boosted its stake in shares of KeyCorp by 4.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 240,699 shares of the financial services provider’s stock valued at $4,855,000 after purchasing an additional 10,948 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of KeyCorp by 1.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 655,339 shares of the financial services provider’s stock valued at $13,218,000 after purchasing an additional 10,393 shares in the last quarter. We Are One Seven LLC bought a new position in shares of KeyCorp during the fourth quarter valued at approximately $183,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of KeyCorp by 87.6% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 59,113 shares of the financial services provider’s stock valued at $1,192,000 after purchasing an additional 27,600 shares in the last quarter. Finally, Fore Capital LLC bought a new position in shares of KeyCorp during the fourth quarter valued at approximately $605,000. Hedge funds and other institutional investors own 81.70% of the company’s stock.

NYSE:KEY traded down $0.76 during mid-day trading on Tuesday, hitting $18.98. 6,999,725 shares of the stock traded hands, compared to its average volume of 10,204,015. The company has a market capitalization of $20,863.71, a price-to-earnings ratio of 14.19, a PEG ratio of 1.24 and a beta of 1.04. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.40. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th were paid 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 dividend yield of 2.21%. KeyCorp’s dividend payout ratio is presently 30.88%.

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About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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