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Analysts Say You Should Hold Your Position In KeyCorp (NYSE: KEY)

KeyCorp (NYSE:KEY) traded at $17.93 at close of the session on Tuesday, 01/24/23, made a downward move of -0.77% on its previous day’s price.

Looking at the stock we see that its previous close was $18.07 and the beta (5Y monthly) reads 1.29 with the day’s price range being $17.83 – $18.17. The company has a trailing 12-month PE ratio of 8.21. In terms of its 52-week price range, KEY has a high of $27.10 and a low of $15.26. The company’s stock has gained about 5.72% over that past 30 days.

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KeyCorp has a market cap of $15.78 billion and is expected to release its quarterly earnings report on Apr 20, 2023. With its Forward Dividend at 0.82 and a yield of 4.57%, the company’s investors could be anxious for the KEY stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.49, with the EPS growth for the year raised at $2.07 for 2023 and $2.31 for next year. These figures represent 7.30% and 11.60% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $1.83 billion, with a low of $1.78 billion and a high of $1.9 billion. The median projection represents growth squeezing down to 8.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $7.54 billion, or 3.70% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the KEY stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of Hold.

Looking further, we note that the PEG ratio for the KEY stock currently stands at 11.41, and the current price level is 1.33% off its SMA20 and 0.04% from its 50-day simple moving average. The RSI (14) is pointing at 52.59 while the volatility over the past week is 4.49% and jumps to 2.57% over the past one month. The beta value is 1.28, while the average true range (ATR) is currently pointing at 0.54. The average price target for the stock over the next 12 months is $19.55, with the estimates having a low of $16.00 and a high of $24.00. These price ends are 10.76% and -33.85% off the current price level respectively, although investors could be excited at the prospect of a -11.54% if the KEY share price touches on the median price of $20.00.

Let’s briefly compare KeyCorp (KEY) stock to its peers. We find that current price change of -0.77% and -27.67% over the past 12 months for KEY competes that of Bank of America Corporation (BAC), which has seen its stock price rise 0.73% in the last trading session and was -23.04% over the last one year. Another of its peers Wells Fargo & Company (WFC) has dropped -1.29% previous session, and was -17.18% down over the past year, while Citigroup Inc. (C) was also down -1.08% in the last session, while its price remained in the red at -18.73% over the same period. KeyCorp has a P/E ratio of 8.21 compared to Bank of America Corporation’s 10.86 and Wells Fargo & Company’s 14.14. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.

Coming back to KeyCorp (NYSE:KEY), we note that the average 3-month trading volume was 10.89 million, while that of the preceding 10-day period stands at 13.52 million. Current shares outstanding are 933.33 million.

The insiders hold 0.10% of the company’s shares while institutions hold 85.70%. The data shows that short shares as of Dec 29, 2022, stood at 19.84 million at a short ratio of 1.93. This represents a 2.13% short interest in shares outstanding on Dec 29, 2022. Shares short rose in December from the previous month at 17.53 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 2.93% up in year-to-date price movement.

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