State Street Given Average Recommendation of “Buy” by Brokerages (NYSE:STT)
Shares of State Street (NYSE:STT) have been given a consensus rating of “Buy” by the fifteen analysts that are currently covering the stock, American Banking News.com reports. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $75.23.
State Street (NYSE:STT) opened at 70.92 on Wednesday. State Street has a one year low of $62.67 and a one year high of $76.24. The stock has a 50-day moving average of $69.89 and a 200-day moving average of $67.32. The company has a market cap of $30.036 billion and a price-to-earnings ratio of 15.40.
State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.39 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that State Street will post $4.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 16th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, September 29th.
A number of research firms have recently commented on STT. 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 Corporation (NYSE:STT) is a financial holding company.
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