KeyCorp (KEY) Projected to Post Earnings on Tuesday

KeyCorp (NYSE:KEY) is projected to release its earnings data before the market opens on Tuesday, January 21st. Analysts expect KeyCorp to post earnings of $0.32 per share and revenue of $1,748,148.40 billion for the quarter.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, analysts expect KeyCorp to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

KeyCorp Price Performance

KEY stock traded up $0.67 during mid-day trading on Wednesday, reaching $18.15. 17,501,137 shares of the company’s stock were exchanged, compared to its average volume of 11,856,448. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The stock’s 50 day moving average is $18.26 and its 200 day moving average is $16.93. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 1,815.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.27.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.52%. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Insider Activity

In other news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

KEY has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. DA Davidson boosted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Thursday, November 7th. Truist Financial began coverage on KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.44.

About KeyCorp

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.