DA Davidson Issues Pessimistic Outlook for KeyCorp Earnings
KeyCorp (NYSE:KEY - Free Report) - Stock analysts at DA Davidson reduced their Q1 2025 EPS estimates for KeyCorp in a research report issued on Wednesday, April 2nd. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings per share of $0.32 for the quarter, down from their previous forecast of $0.34. DA Davidson currently has a "Buy" rating and a $21.00 target price on the stock. The consensus estimate for KeyCorp's current full-year earnings is $1.50 per share. DA Davidson also issued estimates for KeyCorp's FY2025 earnings at $1.49 EPS and FY2026 earnings at $1.74 EPS.
KEY has been the topic of a number of other research reports. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Stephens reiterated an "overweight" rating and issued a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Barclays upped their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $18.50 target price on shares of KeyCorp in a research note on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.42.
Get Our Latest Analysis on KeyCorp
KEY opened at $16.08 on Thursday. The business has a 50 day moving average price of $16.82 and a two-hundred day moving average price of $17.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $17.77 billion, a price-to-earnings ratio of -53.60, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04.
Hedge funds have recently modified their holdings of the stock. Townsquare Capital LLC increased its position in KeyCorp by 34.0% in the 3rd quarter. Townsquare Capital LLC now owns 34,715 shares of the financial services provider's stock worth $581,000 after purchasing an additional 8,814 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of KeyCorp by 1.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 161,783 shares of the financial services provider's stock valued at $2,710,000 after buying an additional 1,900 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in KeyCorp in the third quarter worth approximately $185,000. Benjamin Edwards Inc. bought a new position in KeyCorp during the third quarter valued at approximately $406,000. Finally, Hilltop Holdings Inc. acquired a new stake in KeyCorp in the third quarter valued at approximately $393,000. 79.69% of the stock is owned by institutional investors and hedge funds.
In related news, Director Of Nova Scotia Bank bought 50,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 5.10%. KeyCorp's payout ratio is presently -273.33%.
KeyCorp declared that its Board of Directors has approved a stock buyback program on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
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.
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