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Headquartered in Cleveland, Ohio, KeyCorp (KEY) is a financial services company known for its comprehensive range of banking, investment, and insurance products and services. With a market cap of $13.31 billion, KeyCorp serves individuals, businesses, and communities across the U.S. through its subsidiary, KeyBank. As a trusted financial partner, KeyCorp is committed to delivering innovative solutions and exceptional service to its clients.
KEY stock has outperformed the broader market over the past year. The stock has gained 18.5% over this time, while the broader S&P 500 index ($SPX) has rallied nearly 15.8%. However, in 2024, the stock has declined 1.9%, lagging behind SPX’s 8.7% rise on a YTD basis.
Zooming in further, KRE has outperformed the iShares U.S. Regional Banks ETF (IAT) over the past year. The exchange-traded fund has gained 13.1% compared to KEY’s returns for the period. However, the stock's loss on a YTD basis compares to the exchange-traded fund's 4.6% returns over the same time frame.
KEY reported its Q2 earnings on Jul. 18. EPS of $0.25 per share declined from $0.27 in the year-ago quarter. The stock declined 4% on the earnings release day but gained in the following three trading sessions.
For the current fiscal year, ending in December, analysts expect KEY’s EPS to decline by 9.7% year over year to $1.12 on a diluted basis. The company's earnings surprise history is mixed. It beat the consensus estimate in three of the last four quarters while missing the forecast on another occasion.
Among the 23 analysts covering the KEY stock, the consensus rating is “Moderate Buy.” That’s based on 12 “Strong Buy” ratings, two “Moderate Buys,” and nine “Holds.”
This configuration is less bullish than three months ago, with 13 analysts suggesting a “Strong Buy.”
On Jul. 30, Barclays analyst Jason Goldberg maintained a “Hold” rating on KeyCorp with a price target of $16, implying a potential upside of 13.3% from current levels.
The mean price target of $17.28 represents a 22.4% premium to KEY to current price levels. The Street-high price target of $18 suggests an upside potential of 27.5%.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
