Wall Street brokerages expect State Street Corp (NYSE:STT) to post earnings of $1.96 per share for the current quarter, according to Zacks. Four analysts have issued estimates for State Street’s earnings, with the lowest EPS estimate coming in at $1.87 and the highest estimate coming in at $2.06. State Street reported earnings per share of $1.71 in the same quarter last year, which suggests a positive year-over-year growth rate of 14.6%. The business is scheduled to report its next quarterly earnings results on Monday, October 22nd.

On average, analysts expect that State Street will report full year earnings of $7.66 per share for the current financial year, with EPS estimates ranging from $7.48 to $7.85. For the next fiscal year, analysts expect that the company will post earnings of $8.15 per share, with EPS estimates ranging from $7.63 to $8.40. Zacks’ EPS averages are a mean average based on a survey of research firms that cover State Street.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, July 20th. The asset manager reported $1.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.13). The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.05 billion. State Street had a net margin of 19.56% and a return on equity of 14.98%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.67 EPS.

A number of equities analysts have weighed in on STT shares. Deutsche Bank reduced their price objective on State Street from $116.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 29th. Sandler O’Neill restated a “hold” rating on shares of State Street in a research note on Friday, July 13th. Zacks Investment Research upgraded State Street from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Thursday, May 3rd. Keefe, Bruyette & Woods lowered State Street from an “outperform” rating to a “market perform” rating and set a $91.00 price target for the company. in a research note on Thursday, August 2nd. Finally, ValuEngine lowered State Street from a “sell” rating to a “strong sell” rating in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $105.29.

In other State Street news, insider Jeff D. Conway sold 343 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $83.16, for a total transaction of $28,523.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph L. Hooley sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $83.01, for a total value of $2,075,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,954 shares of company stock valued at $2,237,777. 0.40% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. increased its stake in State Street by 7.6% during the 2nd quarter. GHP Investment Advisors Inc. now owns 19,504 shares of the asset manager’s stock worth $1,816,000 after buying an additional 1,376 shares in the last quarter. Schroder Investment Management Group increased its stake in State Street by 41.5% during the 2nd quarter. Schroder Investment Management Group now owns 16,408 shares of the asset manager’s stock worth $1,547,000 after buying an additional 4,815 shares in the last quarter. Global X Management Co LLC increased its stake in State Street by 43.9% during the 2nd quarter. Global X Management Co LLC now owns 7,393 shares of the asset manager’s stock worth $688,000 after buying an additional 2,257 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in State Street by 8.9% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,249 shares of the asset manager’s stock worth $954,000 after buying an additional 840 shares in the last quarter. Finally, Argent Trust Co increased its stake in State Street by 225.5% during the 2nd quarter. Argent Trust Co now owns 6,790 shares of the asset manager’s stock worth $632,000 after buying an additional 4,704 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

Shares of NYSE STT traded up $0.75 during trading on Tuesday, reaching $84.96. 2,174,616 shares of the company traded hands, compared to its average volume of 1,978,310. The firm has a market capitalization of $30.73 billion, a P/E ratio of 14.26, a PEG ratio of 0.86 and a beta of 1.22. State Street has a 12-month low of $82.43 and a 12-month high of $114.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.52.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, September 28th. This is a positive change from State Street’s previous quarterly dividend of $0.42. State Street’s payout ratio is currently 28.19%.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

See Also: Outstanding Shares

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Earnings History and Estimates for State Street (NYSE:STT)

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