Research Analysts Set Expectations for KeyCorp's Q3 2024 Earnings (NYSE:KEY)

KeyCorp (NYSE:KEY - Free Report) - Analysts at Wedbush lowered their Q3 2024 earnings estimates for shares of KeyCorp in a research report issued to clients and investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $0.24 per share for the quarter, down from their previous forecast of $0.26. Wedbush currently has a "Neutral" rating and a $18.00 target price on the stock. The consensus estimate for KeyCorp's current full-year earnings is $1.10 per share. Wedbush also issued estimates for KeyCorp's Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.04 EPS and FY2026 earnings at $1.65 EPS.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $0.27 earnings per share. KeyCorp's quarterly revenue was down 4.3% compared to the same quarter last year.

Several other research firms have also commented on KEY. Evercore ISI cut their price objective on KeyCorp from $17.50 to $16.50 and set an "outperform" rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada restated an "outperform" rating and issued a $17.00 price objective on shares of KeyCorp in a report on Tuesday, August 13th. UBS Group cut shares of KeyCorp from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. Finally, Morgan Stanley boosted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.71.

KeyCorp Price Performance

Shares of NYSE KEY traded down $0.24 during trading on Wednesday, hitting $16.38. The company had a trading volume of 10,594,612 shares, compared to its average volume of 14,850,044. The firm has a market capitalization of $15.45 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25. The stock has a fifty day simple moving average of $16.09 and a two-hundred day simple moving average of $15.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.39.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 5.01%. KeyCorp's dividend payout ratio (DPR) is presently 103.80%.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares in the company, valued at $759,665.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new position in shares of KeyCorp in the 1st quarter valued at about $25,000. Crewe Advisors LLC purchased a new position in KeyCorp in the first quarter worth approximately $32,000. Fidelis Capital Partners LLC acquired a new position in KeyCorp during the 1st quarter worth approximately $39,000. Quarry LP purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $38,000. Finally, Centerpoint Advisors LLC raised its holdings in shares of KeyCorp by 127.7% in the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 2,107 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Company Profile

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.