State Street (STT) Projected to Post Quarterly Earnings on Friday

State Street (NYSE:STT) is expected to be posting its quarterly earnings results before the market opens on Friday, January 17th. Analysts expect State Street to post earnings of $2.29 per share and revenue of $3,267,560.00 billion for the quarter.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. State Street’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the business posted $1.93 EPS. On average, analysts expect State Street to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

State Street Stock Performance

NYSE:STT traded up $4.20 on Wednesday, hitting $99.64. The company’s stock had a trading volume of 3,917,266 shares, compared to its average volume of 1,960,009. State Street has a one year low of $70.20 and a one year high of $101.91. The firm has a market capitalization of $29.21 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. The stock has a fifty day moving average of $97.51 and a two-hundred day moving average of $89.20. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 48.03%.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,460 shares of company stock valued at $2,499,860. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on STT. Barclays lifted their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. The Goldman Sachs Group lifted their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their price target on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their target price on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.33.

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, 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.