Key logged a -4.8% change during today's afternoon session, and is now trading at a price of $11.0 per share.
Key returned losses of -42.0% last year, with its stock price reaching a high of $20.3 and a low of $8.54. Over the same period, the stock underperformed the S&P 500 index by -47.0%. As of April 2023, the company's 50-day average price was $10.66. KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. Based in Cleveland, OH, the large-cap Finance company has 17,987 full time employees. Key has offered a 7.0% dividend yield over the last 12 months.
Growing Revenues With Increasing Reinvestment in the Business:
| 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Revenue (MM) | $6,182 | $6,490 | $7,038 | $7,033 |
| Interest Income (MM) | $3,909 | $4,034 | $4,071 | $4,527 |
| Net Margins | 27.77% | 20.69% | 37.3% | 27.26% |
| Net Income (MM) | $1,717 | $1,343 | $2,625 | $1,917 |
| Depreciation & Amort. (MM) | -$241 | -$111 | -$32 | -$137 |
| Earnings Per Share | $1.62 | $1.27 | $2.63 | $1.49 |
| EPS Growth | n/a | -21.6% | 107.09% | -43.35% |
| Diluted Shares (MM) | 1,002 | 975 | 957 | 936 |
| Free Cash Flow (MM) | $2,821 | $1,610 | $1,087 | $4,361 |
| Capital Expenditures (MM) | -$85 | -$63 | -$66 | -$108 |
| Long Term Debt (MM) | $13,153 | $14,468 | $12,630 | $24,693 |
| Net Debt / EBITDA | 2.12 | 2.47 | 1.67 | 4.17 |
The Market May Be Undervaluing Key's Assets and Equity:
Key has a trailing twelve month P/E ratio of 7.2, compared to an average of 14.34 for the Finance sector. Based on its EPS guidance of $1.33, the company has a forward P/E ratio of 8.0. The -3.9% compound average growth rate of Key's historical and projected earnings per share yields a PEG ratio of -1.85. This indicates that its shares are overvalued.In contrast, the market is likely undervaluing Key in terms of its equity because its P/B ratio is 0.91 while the sector average is 1.57. The company's shares are currently trading -49.7% below their Graham number.
Key Has an Average Rating of Buy:
The 20 analysts following Key have set target prices ranging from $10.0 to $18.0 per share, for an average of $13.11 with a buy rating. As of April 2023, the company is trading -18.7% away from its average target price, indicating that there is an analyst consensus of some upside potential.
Key has an average amount of shares sold short because 5.0% of the company's shares are sold short. Institutions own 82.6% of the company's shares, and the insider ownership rate stands at 0.33%, suggesting a small amount of insider investors. The largest shareholder is Vanguard Group Inc, whose 12% stake in the company is worth $1,220,893,157.
