KeyCorp Swings To Profit (KEY)

KeyCorp KEY on Tuesday morning released financial results that beat Wall Street earnings expectations. KeyCorp reported 4th quarter net income from continuing operations attributable to common shareholders of $292 million, or $.33 per share, compared to a net loss of $258 million, or $.30 per common share, a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 13 cents per share. Chairman and Chief Executive Officer Henry L. Meyer III said, "Key's fourth quarter performance represents a strong finish to the year. We continue to make meaningful progress in both profitability and credit quality. Furthermore, we are increasingly confident that the strategic actions we have undertaken will continue to yield favorable results into 2011." KeyCorp (KEY) ended the previous trading session at $8.61 per share. Analysts covering the company's stock have a consensus price target of $8.89 per share. Read more from Benzinga's Company news.