Scotiabank Has Pessimistic View of Keyera FY2024 Earnings

Keyera Corp. (TSE:KEY) – Research analysts at Scotiabank reduced their FY2024 EPS estimates for Keyera in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the company will earn $2.13 per share for the year, down from their previous estimate of $2.17. Scotiabank currently has a “Outperform” rating and a $50.00 target price on the stock. The consensus estimate for Keyera’s current full-year earnings is $2.22 per share. Scotiabank also issued estimates for Keyera’s FY2026 earnings at $2.31 EPS.

A number of other analysts have also issued reports on the company. Royal Bank of Canada lifted their target price on Keyera from C$45.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. BMO Capital Markets upped their target price on Keyera from C$41.00 to C$44.00 in a research report on Friday, November 15th. Citigroup raised their price target on shares of Keyera from C$46.00 to C$50.00 in a research report on Monday, November 18th. Barclays set a C$46.00 price target on shares of Keyera and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, National Bankshares raised their price objective on shares of Keyera from C$38.00 to C$39.00 in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$43.62.

Keyera Stock Performance

Shares of KEY stock opened at C$45.39 on Friday. The company has a debt-to-equity ratio of 143.51, a current ratio of 1.30 and a quick ratio of 0.57. The company’s fifty day moving average price is C$44.47 and its two-hundred day moving average price is C$41.71. The firm has a market capitalization of C$10.40 billion, a P/E ratio of 30.46, a P/E/G ratio of 1.35 and a beta of 2.09. Keyera has a 12 month low of C$31.16 and a 12 month high of C$47.90.

Insider Buying and Selling

In related news, Director James Vance Bertram sold 50,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of C$46.38, for a total value of C$2,318,750.00. Company insiders own 0.39% of the company’s stock.

Keyera Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Friday, December 13th. Keyera’s payout ratio is 139.60%.

About Keyera

Keyera Corp. engages in the gathering and processing of natural gas; and transportation, storage, and marketing of natural gas liquids (NGLs) in Canada and the United States. It operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment owns and operates raw gas gathering pipelines and processing plants, which collect and process raw natural gas, remove waste products, and separate the economic components primarily natural gas liquids; and provides gas handling and other ancillary services, such as NGL extraction, NGL handling and loading services, and condensate stabilization services.