KeyCorp (NYSE:KEY) – Investment analysts at Wedbush reduced their Q3 2016 EPS estimates for shares of KeyCorp in a research report issued to clients and investors on Wednesday. Wedbush analyst now anticipates that the brokerage will post earnings of $0.26 per share for the quarter, down from their prior forecast of $0.27. Wedbush currently has a “Outperform” rating and a $15.00 target price on the stock. Wedbush also issued estimates for KeyCorp’s FY2016 earnings at $0.99 EPS and FY2017 earnings at $1.17 EPS.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The company earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year.
Several other equities research analysts have also recently commented on the company. Citigroup Inc. lifted their target price on KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. Morgan Stanley raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Tuesday, July 5th. Zacks Investment Research raised KeyCorp from a “strong sell” rating to a “hold” rating in a research note on Monday, August 1st. Piper Jaffray Cos. cut KeyCorp from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.50 to $13.00 in a research note on Monday, August 29th. Finally, FBR & Co raised KeyCorp from a “market perform” rating to an “outperform” rating and set a $12.50 target price for the company in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. KeyCorp presently has a consensus rating of “Buy” and an average target price of $14.41.
Shares of KeyCorp (NYSE:KEY) traded up 1.30% on Friday, reaching $12.47. The company had a trading volume of 8,644,679 shares. KeyCorp has a one year low of $9.88 and a one year high of $14.01. The company has a 50-day moving average price of $12.38 and a 200-day moving average price of $11.96. The firm has a market cap of $13.49 billion, a P/E ratio of 12.90 and a beta of 1.21.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Group LTD increased its stake in KeyCorp by 0.3% in the first quarter. BlackRock Group LTD now owns 9,052,950 shares of the financial services provider’s stock valued at $99,944,000 after buying an additional 25,898 shares in the last quarter. BlackRock Japan Co. Ltd increased its position in shares of KeyCorp by 3.7% in the first quarter. BlackRock Japan Co. Ltd now owns 1,454,855 shares of the financial services provider’s stock valued at $16,062,000 after buying an additional 51,704 shares during the period. Sentry Investment Management LLC increased its position in shares of KeyCorp by 6.4% in the first quarter. Sentry Investment Management LLC now owns 49,134 shares of the financial services provider’s stock valued at $542,000 after buying an additional 2,955 shares during the period. Columbia Partners L L C Investment Management purchased a new position in shares of KeyCorp during the first quarter valued at approximately $898,000. Finally, Menta Capital LLC purchased a new position in shares of KeyCorp during the first quarter valued at approximately $609,000. 66.25% of the stock is owned by institutional investors and hedge funds.
KeyCorp Company Profile