KeyCorp Likely To Report Lower Q4 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

KeyCorp KEY is expected to release earnings results for its fourth quarter, before the opening bell on Jan. 18, 2024.

Analysts expect the company to report quarterly earnings at 23 cents per share, down from year-ago earnings of 38 cents per share. The company is projected to post revenue of $1.53 billion for the latest quarter, compared to $1.9 billion in the year-earlier period, according to Benzinga Pro.

KeyCorp, during October, reported third-quarter FY23 revenues of $1.566 billion, down 17.0% Y/Y, in line with the consensus.

KeyCorp shares fell 0.6% to close at $13.84 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Jefferies analyst Ken Usdin upgraded the stock from Hold to Buy and increased the price target from $10 to $17 on Jan. 9, 2024. This analyst has an accuracy rate of 69%.
• Keefe, Bruyette & Woods analyst David Konrad maintained an Outperform rating and raised the price target from $15 to $17 on Jan. 3, 2024. This analyst has an accuracy rate of 77%.
• Wells Fargo analyst Mike Mayo maintained an Overweight rating and boosted the price target from $12 to $16 on Dec. 14, 2023. This analyst has an accuracy rate of 66%.
• Piper Sandler analyst Scott Siefers upgraded the stock from Neutral to Overweight and raised the price target from $12 to $13.5 on Sept. 15, 2023. This analyst has an accuracy rate of 67%.
• Citigroup analyst Keith Horowitz maintained a Buy rating and increased the price target from $14 to $15 on July 24, 2023. This analyst has an accuracy rate of 74%.

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