what is the value of keycorp now

We really should be asking what the value of Keycorp is now. On Friday on the basis of the announcement, the Share Price jumped from 30c to 48c

If we look into this announcement and a few previous announcements we see:
- They had $14m+ Cash early this year (17+ cents per share)
- They had made approx $2m in the first half of the FY
- They will make $9m+ for the full Financial Year
- Paying a special Dividend of 5c per share
(Last dividend paid was 41c* per share in August 2005)

This tends to indicate that they would probably make $15m to $20 for FY09/10 or at least 20 cents per share

Even given a very conservative P/E of 5 that would equate to $1+ per share



*The 41 cent dividend was the result of selling their TNS Business to Telstra