Shares of State Street Co. (NYSE:STT – Get Free Report) have earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $84.04.
A number of brokerages have issued reports on STT. Evercore ISI lifted their target price on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Argus boosted their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their target price on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. UBS Group lifted their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of State Street in a report on Wednesday.
Institutional Investors Weigh In On State Street
State Street Stock Down 1.0 %
NYSE:STT opened at $70.91 on Friday. The business’s fifty day moving average price is $74.67 and its 200 day moving average price is $74.72. The firm has a market capitalization of $21.36 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.23 and a beta of 1.47. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street has a 1-year low of $62.78 and a 1-year high of $79.90.
State Street (NYSE:STT – Get Free Report) last issued its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. On average, sell-side analysts forecast that State Street will post 7.94 earnings per share for the current fiscal year.
State Street Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.76 dividend on an annualized basis and a yield of 3.89%. State Street’s payout ratio is presently 51.69%.
About State Street
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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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