State Street (STT) Set to Announce Quarterly Earnings on Friday

State Street (NYSE:STT) will be announcing its earnings results before the market opens on Friday, January 17th. Analysts expect the company to announce earnings of $1.67 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, October 18th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.11. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.86 billion. State Street had a net margin of 16.18% and a return on equity of 11.34%. State Street’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.87 earnings per share. On average, analysts expect State Street to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

State Street stock opened at $81.53 on Wednesday. The company has a market cap of $29.70 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.45 and a beta of 1.58. The firm’s fifty day moving average is $78.83 and its 200 day moving average is $64.18. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.53. State Street has a 52-week low of $48.62 and a 52-week high of $82.94.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Tuesday, December 31st. State Street’s payout ratio is 28.81%.

Several brokerages have recently weighed in on STT. Jefferies Financial Group raised shares of State Street from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $92.00 in a research note on Tuesday, January 7th. ValuEngine downgraded shares of State Street from a “hold” rating to a “sell” rating in a research note on Wednesday, December 4th. Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and increased their target price for the company from $76.00 to $95.00 in a research note on Monday, January 6th. Bank of America increased their target price on shares of State Street from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Deutsche Bank increased their target price on shares of State Street from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. State Street presently has a consensus rating of “Hold” and an average target price of $77.40.

In related news, Director Joseph L. Hooley sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $65.70, for a total value of $1,642,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joerg Ambrosius sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.08, for a total transaction of $187,700.00. Following the completion of the transaction, the executive vice president now directly owns 14,654 shares in the company, valued at approximately $1,100,222.32. The disclosure for this sale can be found here. In the last three months, insiders sold 118,984 shares of company stock worth $7,709,865. Insiders own 0.40% of the company’s stock.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It 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: Profit Margin

Earnings History for State Street (NYSE:STT)

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