State Street Corp. Given New $75.00 Price Target at Guggenheim (STT)
Guggenheim dropped their target price on shares of State Street Corp. (NYSE:STT) from $77.50 to $75.00 in a research note issued on Monday, AnalystRatingsNetwork reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price target would indicate a potential upside of 14.07% from the company’s current price.
Shares of State Street Corp. (NYSE:STT) traded down 0.69% during mid-day trading on Monday, hitting $65.75. The stock had a trading volume of 1,825,046 shares. State Street Corp. has a 1-year low of $41.09 and a 1-year high of $71.27. The stock’s 50-day moving average is $68.03 and its 200-day moving average is $64.77. The company has a market cap of $29.323 billion and a price-to-earnings ratio of 14.39.
State Street Corp. (NYSE:STT) last posted its quarterly earnings results on Friday, July 19th. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.06. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that State Street Corp. will post $4.59 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on STT. Analysts at Zacks reiterated a “neutral” rating on shares of State Street Corp. (NYSE:STT) in a research note to investors on Wednesday, September 11th. They now have a $72.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of State Street Corp. (NYSE:STT) from $74.00 to $83.00 in a research note to investors on Tuesday, August 6th. They now have a “buy” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of State Street Corp. (NYSE:STT) from $65.00 to $77.00 in a research note to investors on Tuesday, July 23rd. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $71.17.
State Street Corporation (NYSE:STT) is a financial holding company.
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