State Street Corp. Price Target Increased to $86.00 by Analysts at Jefferies Group (STT)
Investment analysts at Jefferies Group upped their target price on shares of State Street Corp. (NYSE:STT) from $80.00 to $86.00 in a note issued to investors on Tuesday, Stock Ratings Network.com reports. Jefferies Group’s price objective would suggest a potential upside of 14.30% from the stock’s previous close.
A number of other firms have also recently commented on STT. Analysts at Barclays raised their price target on shares of State Street Corp. from $75.00 to $83.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of State Street Corp. from $74.00 to $76.00 in a research note to investors on Friday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of State Street Corp. in a research note to investors on Monday, December 16th. They now have a $73.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. State Street Corp. currently has a consensus rating of “Buy” and a consensus price target of $73.25.
Shares of State Street Corp. (NYSE:STT) traded up 0.74% during mid-day trading on Tuesday, hitting $75.24. 1,521,808 shares of the company’s stock traded hands. State Street Corp. has a 52 week low of $49.25 and a 52 week high of $76.24. The stock’s 50-day moving average is $71. and its 200-day moving average is $69.2. The company has a market cap of $33.030 billion and a P/E ratio of 16.95.
State Street Corp. (NYSE:STT) last announced its earnings results on Tuesday, October 22nd. The company reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that State Street Corp. will post $4.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of 0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, December 30th.
State Street Corporation (NYSE:STT) is a financial holding company.
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