State Street (NYSE:STT) is set to announce its earnings results before the market opens on Friday, April 20th. Analysts expect the company to announce earnings of $1.56 per share for the quarter.
State Street (NYSE:STT) last posted its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a return on equity of 13.41% and a net margin of 17.94%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. On average, analysts expect State Street to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.
State Street stock opened at $101.09 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.61. The firm has a market cap of $36,732.23, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.30 and a beta of 1.31. State Street has a twelve month low of $76.95 and a twelve month high of $114.27.
A number of analysts have weighed in on STT shares. Keefe, Bruyette & Woods restated a “buy” rating and set a $114.00 target price on shares of State Street in a report on Friday, December 22nd. Barclays increased their price objective on State Street from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating and set a $109.00 price objective for the company. in a report on Friday, January 5th. Vining Sparks reiterated a “buy” rating and set a $120.00 price objective on shares of State Street in a report on Monday, January 8th. Finally, Jefferies Group reiterated a “hold” rating and set a $107.00 price objective on shares of State Street in a report on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. State Street has an average rating of “Buy” and a consensus price target of $111.33.
In related news, CEO Joseph L. Hooley sold 33,568 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $102.65, for a total value of $3,445,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew P. Kuritzkes sold 10,248 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.17, for a total value of $1,108,526.16. The disclosure for this sale can be found here. Insiders sold a total of 49,531 shares of company stock valued at $5,146,169 in the last 90 days. 0.71% of the stock is currently owned by company insiders.
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About State Street
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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