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KeyCorp (KEY) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
According to KeyCorp chairman and CEO Beth Mooney, 2016 turned out to be a “successful and transformational year” for the Cleveland-headquartered company that bought First Niagara Financial Group Inc. of Buffalo. KeyCorp (KEY) still has to make the $3.7 billion deal worthwhile for investors. “While the systems and conversion (work) is done, there’s still lots of work to do to realize ($400 million in) cost savings and make that translate into benefits,” Mooney said Thursday, the same day the company reported quarterly earnings.
KeyCorp.'s (KEY) fourth-quarter 2016 adjusted earnings of 31 cents per share outpaced the Zacks Consensus Estimate of 28 cents.