Director Highsmith Carlton L sold 6,963 shares in KeyCorp (NYSE:KEY) for $61,125 in transaction occurred on 2018/11/02. After making this transaction, the Director owns a direct stake of 127,910 shares, worth $975,555, as per the last closing price. On 2018/11/02 Kimble Donald R, Chf. Finance Off. & Vice Chair at KEY, purchased 5,000 shares at an average price of $18.55 per share. The new stake is valued at $4,051,398.
Separately, it had been reported that some other KEY insiders also took part of the insider trading activity. Chairman and CEO, Mooney Beth E had invested in 10,000 shares for $1,042,354 through a trade on 2018/11/01. Following this activity, the insider holds 182,600 shares worth $16,635,970 as of recent close. Wall Street’s most bullish KeyCorp (NYSE:KEY) analysts are predicting the share price to blow past $26 per share during the next 12 months. The current median share price forecast by them is $19, suggesting that the stock could increase 19.05% in that time frame. The average price target of $19.68 calls for a nearly 23.31% increase in the stock price.
KeyCorp (KEY) trading activity significantly weakened as the volume at ready counter decreased to 8,382,011 shares versus 11,887,230 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 9,283,925 shares. The share price rose 1.01% in recent trade and currently has a stock-market value of $16.54B. The shares finished at $15.96, after trading as low as $15.68 earlier in the session. It hit an intraday high Friday at $16.09. The stock is now 16.92% above against its bear-market low of $13.65 on December 26, 2018. It has retreated -40.35% since it’s 52-week high of $22.4 reached in March. Now the market price is down -24.04% on the year and up 7.98% YTD.
KEY’s 50 day simple moving average (SMA 50) price is $16.8 and its 200-day simple moving average (SMA 200) price is $19.29. The company’s stock currently has a total float of 1.03B shares. Its weekly volatility is hovering around 2.68% and felt 3.39% volatility in price over a month. On the upside, the share price will test short term resistance at around $16.14. On a downside, the stock is likely to find some support, which begins at $15.73. The failure to get near-term support could push it to $15.5.
It had seen a positive analyst call from Sandler O’Neill, which upgraded the stock from Hold to Buy on January 11. Analysts at Barclays, maintained the company shares at Underweight on January 02 but switched target price from $23 to $20. The stock lost favor of Nomura analysts who expressed their lack of confidence in it using a downgrade from Neutral to Reduce on December 10.
When looking at valuations, KeyCorp (KEY) has a cheap P/E of 10.23x as compared to industry average of 19.01x. Moreover, it trades for 8.4 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.2x price/book and 3.52x price/sales. Compared to others, KeyCorp is in a different league with regards to profitability, having net margins of 32.4%. To put some perspective around this, the industry’s average net margin is 29.87%. KEY’s ROE is 10.9%, which is also considerably worse than the industry’s ROE of 16.14%.
Shares of KeyCorp (KEY) have dropped -14.8% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, KeyCorp (NYSE:KEY) has topped consensus earnings estimates in 5 quarters (41%), missed earnings in 2 quarters (16%), whereas at 5 occasion EPS met analyst expectations. KEY last reported earnings on October 18, 2018 when it released Sep-18 results that receded expectations. The company raked in $0.45 per share, -58.33% change on the same period last year. That was worse than consensus for $0.45. Revenue for the recent quarter stood at $1.6 billion, up 4% on last year and below the $1.64 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $1.57 billion to $1.67 billion, which should be compared with $1.63 billion generated last year. EPS is seen in a range of $0.45 to $0.48, against the $0.43 reported a year ago.