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Will Current Price Volatility Hamper KeyCorp (KEY) Future Potential?

KeyCorp (NYSE:KEY) has a beta value of 1.29 and has seen 11.27 million shares traded in the last trading session. The company, currently valued at $16.77B, closed the last trade at $17.61 per share which meant it lost -$0.22 on the day or -1.23% during that session. The KEY stock price is -54.29% off its 52-week high price of $27.17 and 6.81% above the 52-week low of $16.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 10.87 million shares traded. The 3-month trading volume is 9.50 million shares.

The consensus among analysts is that KeyCorp (KEY) is a Hold stock at the moment, with a recommendation rating of 2.70. 3 analysts rate the stock as a Sell, while 0 rate it as Overweight. 12 out of 22 have rated it as a Hold, with 7 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.57.

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KeyCorp (NYSE:KEY) trade information

Sporting -1.23% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the KEY stock price touched $17.61 or saw a rise of 3.72%. Year-to-date, KeyCorp shares have moved -23.87%, while the 5-day performance has seen it change -2.17%. Over the past 30 days, the shares of KeyCorp (NYSE:KEY) have changed -8.76%. Short interest in the company has seen 17.23 million shares shorted with days to cover at 1.86.

Wall Street analysts have a consensus price target for the stock at $21.26, which means that the shares’ value could jump 17.17% from current levels. The projected low price target is $17.00 while the price target rests at a high of $29.00. In that case, then, we find that the current price level is -64.68% off the targeted high while a plunge would see the stock lose 3.46% from current levels.

KeyCorp (KEY) estimates and forecasts

Figures show that KeyCorp shares have underperformed across the wider relevant industry. The company’s shares have lost -26.29% over the past 6 months, with this year growth rate of -14.50%, compared to -9.00% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -13.60% and -4.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 0.60%.

12 analysts offering their estimates for the company have set an average revenue estimate of $1.89 billion for the current quarter. 12 have an estimated revenue figure of $1.98 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $1.82 billion and $1.95 billion respectively for this quarter and the next, and analysts expect sales will grow by 3.90% for the current quarter and 1.60% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 26.70% over the past 5 years. Earnings growth for 2022 is a modest 108.60% while over the next 5 years, the company’s earnings are expected to increase by 0.72%.

KEY Dividends

KeyCorp is expected to release its next earnings report between April 18 and April 22 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.78 at a share yield of 4.43%. The company’s dividend yield has gone up over the past 12 months.

KeyCorp (NYSE:KEY)’s Major holders

Insiders own 0.37% of the company shares, while shares held by institutions stand at 84.97% with a share float percentage of 85.29%. Investors are also buoyed by the number of investors in a company, with KeyCorp having a total of 1,154 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 111.2 million shares worth more than $2.49 billion. As of Mar 30, 2022, Vanguard Group, Inc. (The) held 11.93% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 83.58 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $1.87 billion and represent 8.96% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and American Mutual Fund Inc. As of Mar 30, 2022, the former fund manager holds about 2.88% shares in the company for having 26.82 million shares of worth $600.26 million while later fund manager owns 21.68 million shares of worth $373.48 million as of Jun 29, 2022, which makes it owner of about 2.32% of company’s outstanding stock.

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