Jefferies Financial Group lowers KeyCorp (NYSE:KEY) price target to $18.00

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KeyCorp (NYSE: KEY – Get Valuation) had its price target reduced by analysts at Jefferies Financial Group from $23.00 to $18.00 in a report on Monday, Benzinga reports. The company currently has a “hold” rating on the shares of the financial services provider. Jefferies Financial Group’s price target suggests a potential upside of 3.21% from the current share price.

Several other equity research analysts have also recently released reports on the stock. Citigroup reiterated a “neutral” rating on KeyCorp shares in a Thursday, March 24 research note. Wolfe Research cut its price target on KeyCorp from $23.00 to $17.00 and set an “underperform” rating for the company in a Thursday, May 26 report. Goldman Sachs Group cut its price target on KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a Tuesday, May 31 report. Morgan Stanley cut its price target on KeyCorp from $30.00 to $27.00 and set an “equal weight” rating for the company in a Monday, March 28 report. Finally, Wedbush downgraded KeyCorp from an “outperforming” rating to a “neutral” rating and lowered its price target for the company from $26.00 to $20.00 in a Thursday, June 30, report. Two research analysts gave the stock a sell rating, eight issued a hold rating and six gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.29.

Shares of NYSE KEY traded down $0.05 at midday on Monday, hitting $17.44. The company had a trading volume of 46,635 shares, compared to an average volume of 9,804,505. The stock has a fifty-day moving average of $18.51 and a two-hundred-day moving average of $21.96. The company has a debt ratio of 0.81, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $16.26 billion, a price-earnings ratio of 7.06, a PEG ratio of 0.44 and a beta of 1.35. KeyCorp has a 12-month low of $16.69 and a 12-month high of $27.17.

KeyCorp (NYSE:KEY – Get Rating) last released quarterly earnings data on Thursday, April 21. The financial services provider reported EPS of $0.45 for the quarter, missing analyst consensus estimates of $0.48 per ($0.03). KeyCorp had a return on equity of 15.42% and a net margin of 31.30%. The company posted revenue of $1.70 billion in the quarter, compared to analysts’ estimates of $1.74 billion. In the same quarter a year earlier, the company posted EPS of $0.61. The company’s quarterly revenue fell 3.1% year over year. Sell-side analysts expect KeyCorp to post earnings per share of 2.19 for the current fiscal year.

Several institutional investors have recently bought and sold shares of KEY. DeDora Capital Inc. bought a new position in KeyCorp during Q1 worth approximately $28,000. CVA Family Office LLC acquired a new position in shares of KeyCorp in Q4 worth $36,000. Spectrum Management Group LLC acquired a new position in shares of KeyCorp in Q1 worth $35,000. TCTC Holdings LLC purchased a new equity stake in KeyCorp in Q1 for $35,000. Finally, the Canada Pension Plan Investment Board acquired a new stake in KeyCorp during the 1st quarter for a value of $38,000. Institutional investors hold 83.24% of the company’s shares.

About KeyCorp (Get a rating)

KeyCorp operates as a holding company of the KeyBank National Association which 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 investment deposits, products and services; and personal finance and financial wellness, student loan refinance, mortgage and home equity, loans, credit cards, cash flow, business consulting, wealth management, asset management, investing, cash management, management portfolio, trust and related services to individuals and small and medium-sized businesses.

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