Scotiabank Has Pessimistic Outlook of Keyera FY2024 Earnings

Keyera Corp. (TSE:KEY - Free Report) - Scotiabank reduced their FY2024 earnings per share estimates for Keyera in a research note issued on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will post earnings of $2.13 per share for the year, down from their prior estimate of $2.17. Scotiabank currently has a "Outperform" rating and a $50.00 target price on the stock. The consensus estimate for Keyera's current full-year earnings is $2.22 per share. Scotiabank also issued estimates for Keyera's FY2026 earnings at $2.31 EPS.

KEY has been the subject of several other reports. ATB Capital raised their price target on shares of Keyera from C$43.00 to C$44.00 in a report on Friday, November 15th. Raymond James lifted their target price on shares of Keyera from C$47.00 to C$48.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Barclays set a C$46.00 price target on shares of Keyera and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. BMO Capital Markets lifted their price objective on Keyera from C$41.00 to C$44.00 in a research report on Friday, November 15th. Finally, Citigroup upped their target price on Keyera from C$46.00 to C$50.00 in a research report on Monday, November 18th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Keyera presently has an average rating of "Moderate Buy" and a consensus target price of C$43.62.

Keyera Stock Down 1.5 %

TSE KEY traded down C$0.70 during trading on Friday, reaching C$44.69. 1,927,469 shares of the company's stock were exchanged, compared to its average volume of 898,775. The company has a current ratio of 1.30, a quick ratio of 0.57 and a debt-to-equity ratio of 143.51. Keyera has a fifty-two week low of C$31.16 and a fifty-two week high of C$47.90. The company's fifty day simple moving average is C$44.47 and its 200-day simple moving average is C$41.71. The firm has a market capitalization of C$10.24 billion, a PE ratio of 29.99, a P/E/G ratio of 1.35 and a beta of 2.09.

Insider Transactions at Keyera

In other news, Director James Vance Bertram sold 50,000 shares of Keyera stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of C$46.38, for a total value of C$2,318,750.00. 0.39% of the stock is owned by corporate insiders.

Keyera Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Friday, December 13th. Keyera's dividend payout ratio is 139.60%.

Keyera Company Profile

Keyera Corp. engages in the gathering and processing of natural gas; and transportation, storage, and marketing of natural gas liquids (NGLs) in Canada and the United States. It operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment owns and operates raw gas gathering pipelines and processing plants, which collect and process raw natural gas, remove waste products, and separate the economic components primarily natural gas liquids; and provides gas handling and other ancillary services, such as NGL extraction, NGL handling and loading services, and condensate stabilization services.