Keycorp (NYSE: KEY)’s Stock Market Position Could Improve In The Coming Months

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In the last trading session, 8.02 million shares of the Keycorp (NYSE:KEY) were traded, and its beta was 1.29. Most recently the company’s share price was $15.49, and it changed around -$0.32 or -2.02% from the last close, which brings the market valuation of the company to $14.47B. KEY currently trades at a discount to its 52-week high of $15.86, offering almost -2.39% off that amount. The share price’s 52-week low was $8.53, which indicates that the current value has risen by an impressive 44.93% since then. We note from Keycorp’s average daily trading volume that its 10-day average is 9.48 million shares, with the 3-month average coming to 16.88 million.

Keycorp stock received a consensus recommendation rating of Buy, based on a mean score of 1.92. If we narrow it down even further, the data shows that 1 out of 28 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 9 recommended KEY as a Hold, whereas 12 deemed it a Buy, and 0 rated it as Underweight. Keycorp is expected to report earnings per share of $0.22 for the current quarter.

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Keycorp (NYSE:KEY) trade information

Instantly KEY has showed a red trend with a performance of -2.02% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 7.57% year-to-date, but still up 3.06% over the last five days. On the other hand, Keycorp (NYSE:KEY) is 8.55% up in the 30-day period. We can see from the shorts that 26.59 million shares have been sold at a short interest cover period of 1.64 day(s).

The consensus price target as assigned by Wall Street analysts is $23.25, which translates to bulls needing to increase their stock price by 33.38% from its current value. Analyst projections state that KEY is forecast to be at a low of $17 and a high of $32.

Keycorp (KEY) estimates and forecasts

Keycorp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 47.24 percent over the past six months and at a 7.27% annual growth rate that is well above the industry average of -7.10%. The year-over-year growth rate is expected to be -0.10%, down from the previous year.

Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $1.51 billion in revenue for the current quarter. 16 analysts expect Keycorp to make $1.55 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.79 billion and $1.63 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -15.40%. Forecasts for the next quarter put sales growth at -4.90%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -12.34%. Keycorp earnings are expected to increase by 3.22% in 2024, but the outlook is negative -5.80% per year for the next five years.

KEY Dividends

Keycorp’s next quarterly earnings report is expected to be released on April 18. The annual dividend yield of the stock is 5.29 percent and its annual dividend per share was 0.82. It is important to note, however, that the 5.29% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Keycorp (NYSE:KEY)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.36% of Keycorp shares, and 82.14% of them are in the hands of institutional investors. The stock currently has a share float of 82.43%. Keycorp stock is held by 1,080 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 11.82% of the shares, which is about 110.59 million shares worth $1.02 billion.

Blackrock Inc., with 10.04% or 93.94 million shares worth $867.98 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Undiscovered Managers Behavioral Value Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 29.04 million shares worth $268.28 million, making up 3.10% of all outstanding shares. On the other hand, Undiscovered Managers Behavioral Value Fund held roughly 24.91 million shares worth around $230.19 million, which represents about 2.66% of the total shares outstanding.