Summary:
- KeyCorp (KEY, Financial) reported a second-quarter non-GAAP EPS of $0.35, narrowly beating forecasts.
- Revenue surged by 21% year-over-year to $1.84 billion, topping estimates by $30 million.
- Analysts set an average price target of $19.11, indicating a modest upside from the current price.
KeyCorp (NYSE: KEY) recently reported its financial results for the second quarter, showcasing significant performance metrics that could interest savvy investors.
Impressive Financial Performance
In its latest earnings release, KeyCorp announced a second-quarter non-GAAP earnings per share (EPS) of $0.35, exceeding expectations by a slender $0.01. This performance was underscored by remarkable revenue growth, reaching $1.84 billion. This marks a 21% increase compared to the same period last year, surpassing analyst estimates by $30 million. Notably, provisions for credit losses increased to $138 million, reflecting a rise from previous quarters.
Wall Street Analysts' Forecast
According to 19 analysts' one-year price targets, the average target price for KeyCorp (KEY, Financial) is $19.11. This forecast includes a high estimate of $22.00 and a low estimate of $17.00. The average target price indicates an upside potential of 4.54% from the current market price of $18.28. For more comprehensive forecast insights, visit the KeyCorp (KEY) Forecast page.
Brokerage Recommendations
Currently, 24 brokerage firms provide a consensus recommendation on KeyCorp, with an average brokerage recommendation score of 2.3. This suggests an "Outperform" rating on the stock. The scale ranges from 1, representing a Strong Buy, to 5, which indicates a Sell recommendation.
Evaluating GF Value
Based on GuruFocus estimates, the projected GF Value for KeyCorp (KEY, Financial) in the coming year stands at $15.85. This suggests a potential downside of 13.29% from the current price of $18.28. The GF Value is a proprietary metric that estimates the fair value of a stock, considering historical trading multiples, past business growth, and future performance projections. Detailed data and further analysis can be accessed on the KeyCorp (KEY) Summary page.
