State Street (STT) to Release Quarterly Earnings on Friday

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.



The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.68 dividend on an annualized basis and a yield of 1.66%. State Street’s dividend payout ratio is currently 28.19%.

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.

ILLEGAL ACTIVITY NOTICE: This piece was first posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://dakotafinancialnews.com/2018/04/13/state-street-stt-to-release-quarterly-earnings-on-friday.html.

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.

Earnings History for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply