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Keycorp (NYSE: KEY) Is Under Pressure Due To Weak Fundamental Momentum.

In the last trading session, 16.93 million Keycorp (NYSE:KEY) shares changed hands as the company’s beta touched 1.28. With the company’s per share price at $14.13 changed hands at $0.24 or 1.73% during last session, the market valuation stood at $13.23B. KEY’s last price was a discount, traded about -39.07% off its 52-week high of $19.65. The share price had its 52-week low at $8.53, which suggests the last value was 39.63% up since then. When we look at Keycorp’s average trading volume, we note the 10-day average is 21.22 million shares, with the 3-month average coming to 1.00.

Keycorp (NYSE:KEY) trade information

Instantly KEY was in green as seen at the end of in last trading. With action -0.63%, the performance over the past five days has been red. The jump to weekly highs of 14.46 added 1.73% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.87%, with the 5-day performance at -0.63% in the red. However, in the 30-day time frame, Keycorp (NYSE:KEY) is -1.81% down. Looking at the short shares, we see there were 31.05 million shares sold at short interest cover period of 1.61 days.

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Keycorp (KEY) estimates and forecasts

Data shows that the Keycorp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 22.23% over the past 6 months, a 10.91% in annual growth rate that is considerably higher than the industry average of -6.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Keycorp will fall -23.30%, while the growth in revenue is estimated to hit 0.00% for the next quarter.

Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of $1.51 billion. 16 analysts are of the opinion that Keycorp’s revenue for the quarter ending Jun 2024 will be $1.55 billion. The company’s revenue for the corresponding quarters a year ago was $1.79 billion and $1.63 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -15.50%. The estimates for the next quarter sales put growth at -4.80%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -12.41%. The 2024 estimates are for Keycorp earnings to increase by 3.68%, but the outlook for the next 5-year period is at -5.80% per year.

KEY Dividends

Keycorp is expected to release its next quarterly earnings report on April 18. The 5.80% annual yield figure for the share gives it an annual dividend of 0.82. It is important to note, however, that the 5.80% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Keycorp (NYSE:KEY)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.32% of Keycorp shares while 80.69% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.95%. There are 80.69% institutions holding the Keycorp stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 11.74% of the shares, roughly 109.89 million KEY shares worth $1.55 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 10.78% or 100.91 million shares worth $1.43 billion as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were Vanguard Total Stock Market Index Fund and Undiscovered Managers Behavioral Value Fund. With 29.07 million shares estimated at $410.76 million under it, the former controlled 3.10% of total outstanding shares. On the other hand, Undiscovered Managers Behavioral Value Fund held about 2.72% of the shares, roughly 25.45 million shares worth around $359.54 million.

On Key

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