Wall Street brokerages expect that State Street Corporation (NYSE:STT) will announce $2.97 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for State Street’s earnings, with the highest sales estimate coming in at $2.99 billion and the lowest estimate coming in at $2.96 billion. State Street posted sales of $2.53 billion in the same quarter last year, which suggests a positive year over year growth rate of 17.4%. The firm is scheduled to announce its next earnings report on Wednesday, January 24th.

On average, analysts expect that State Street will report full year sales of $2.97 billion for the current financial year, with estimates ranging from $11.31 billion to $11.71 billion. For the next fiscal year, analysts expect that the firm will report sales of $12.16 billion per share, with estimates ranging from $11.71 billion to $12.32 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for State Street.

State Street (NYSE:STT) last posted its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. State Street had a net margin of 20.56% and a return on equity of 13.03%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.35 EPS.

Several research analysts have weighed in on the company. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Citigroup restated a “neutral” rating and issued a $102.00 price target (up previously from $88.00) on shares of State Street in a research report on Monday, October 9th. Royal Bank Of Canada decreased their price target on State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. Morgan Stanley lifted their target price on State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Finally, Wells Fargo & Company started coverage on State Street in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $115.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. State Street presently has an average rating of “Hold” and a consensus price target of $96.47.

In other news, insider Andrew Erickson sold 354 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $92.00, for a total value of $32,568.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Hannah M. Grove sold 3,200 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of State Street by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 24,022,695 shares of the asset manager’s stock worth $2,155,556,000 after buying an additional 448,658 shares during the last quarter. FMR LLC grew its stake in shares of State Street by 10.8% in the second quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock worth $1,793,591,000 after acquiring an additional 1,940,536 shares in the last quarter. Longview Partners Guernsey LTD grew its stake in shares of State Street by 6.5% in the third quarter. Longview Partners Guernsey LTD now owns 8,062,726 shares of the asset manager’s stock worth $770,313,000 after acquiring an additional 493,244 shares in the last quarter. Capital International Investors lifted its position in shares of State Street by 63.3% during the 3rd quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock worth $551,383,000 after purchasing an additional 2,237,595 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of State Street by 44.8% in the third quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock valued at $427,133,000 after buying an additional 1,383,249 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

State Street (STT) opened at $95.35 on Friday. State Street has a 12-month low of $74.45 and a 12-month high of $99.99. The firm has a market capitalization of $35,360.00, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.59 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48.

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About State Street

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

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Earnings History and Estimates for State Street (NYSE:STT)

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