State Street Receives Average Recommendation of “Buy” from Brokerages (NYSE:STT)
Shares of State Street (NYSE:STT) have earned a consensus rating of “Buy” from the fifteen ratings firms that are currently covering the company, American Banking & Market News reports. Six research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $75.23.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of State Street from $75.00 to $80.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of State Street in a research note on Friday, July 25th. They now have a $70.50 price target on the stock, down previously from $71.50. Finally, analysts at Barclays cut their price target on shares of State Street from $80.00 to $79.00 in a research note on Wednesday, July 23rd. They now have an “overweight” rating on the stock.
State Street (NYSE:STT) opened at 70.20 on Wednesday. State Street has a one year low of $62.67 and a one year high of $76.24. The stock’s 50-day moving average is $69.6 and its 200-day moving average is $67.. The company has a market cap of $29.731 billion and a price-to-earnings ratio of 15.28.
State Street (NYSE:STT) last announced its earnings results on Tuesday, July 22nd. The company reported $1.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.27 by $0.12. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the company posted $1.24 earnings per share. State Street’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that State Street will post $4.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 16th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Monday, September 29th.
State Street Corporation (NYSE:STT) is a financial holding company.
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