Equities Analysts Offer Predictions for KeyCorp’s FY2023 Earnings (NYSE:KEY)

KeyCorp (NYSE:KEY) – Analysts at Wedbush issued their FY2023 earnings per share estimates for KeyCorp in a research report issued to clients and investors on Sunday, September 12th. Wedbush analyst P. Winter expects that the financial services provider will post earnings per share of $2.17 for the year.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Monday, July 19th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.19. KeyCorp had a return on equity of 14.21% and a net margin of 30.87%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company posted $0.17 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis.

A number of other equities research analysts also recently commented on KEY. Wells Fargo & Company raised their price objective on shares of KeyCorp from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, June 24th. Odeon Capital Group downgraded shares of KeyCorp from a “buy” rating to a “hold” rating and set a $17.73 price objective for the company. in a research report on Monday, July 19th. Citigroup initiated coverage on shares of KeyCorp in a research report on Friday, July 16th. They issued a “hold” rating and a $20.16 price objective for the company. Morgan Stanley reduced their price objective on shares of KeyCorp from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Monday, August 2nd. Finally, Royal Bank of Canada raised their price objective on shares of KeyCorp from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $25.65.

NYSE KEY opened at $20.60 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.82. The firm has a market cap of $19.70 billion, a P/E ratio of 8.88, a P/E/G ratio of 0.38 and a beta of 1.54. KeyCorp has a 52-week low of $11.33 and a 52-week high of $23.65. The business’s 50-day moving average price is $20.00 and its 200 day moving average price is $20.86.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st will be paid a $0.185 dividend. The ex-dividend date is Monday, August 30th. This represents a $0.74 annualized dividend and a yield of 3.59%. KeyCorp’s payout ratio is currently 58.73%.

In other KeyCorp news, insider Jamie Warder sold 3,112 shares of KeyCorp stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $19.97, for a total value of $62,146.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of KeyCorp by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 112,375,438 shares of the financial services provider’s stock valued at $2,320,553,000 after buying an additional 2,704,372 shares during the period. BlackRock Inc. grew its stake in shares of KeyCorp by 0.5% during the 2nd quarter. BlackRock Inc. now owns 81,084,308 shares of the financial services provider’s stock valued at $1,674,392,000 after buying an additional 402,480 shares during the period. Capital International Investors grew its stake in shares of KeyCorp by 1.9% during the 2nd quarter. Capital International Investors now owns 71,317,436 shares of the financial services provider’s stock valued at $1,472,705,000 after buying an additional 1,322,539 shares during the period. Boston Partners lifted its holdings in shares of KeyCorp by 2.9% during the 2nd quarter. Boston Partners now owns 32,061,109 shares of the financial services provider’s stock valued at $661,999,000 after acquiring an additional 889,709 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of KeyCorp by 6.8% during the 2nd quarter. Royal Bank of Canada now owns 22,659,532 shares of the financial services provider’s stock valued at $467,918,000 after acquiring an additional 1,446,896 shares in the last quarter. 80.49% of the stock is owned by institutional investors.

About KeyCorp

KeyCorp operates as bank holding company, which engages in the provision of financial services. it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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