State Street (STT) to Release Quarterly Earnings on Tuesday

State Street (NYSE:STT) will announce its earnings results before the market opens on Tuesday, January 23rd. Analysts expect the company to announce earnings of $1.69 per share for the quarter.

State Street (NYSE:STT) last announced its 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. State Street had a net margin of 20.56% and a return on equity of 13.03%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the business earned $1.35 earnings per share. State Street’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts expect State Street to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

State Street (NYSE STT) opened at $107.24 on Tuesday. State Street has a 12-month low of $74.45 and a 12-month high of $107.57. The stock has a market cap of $39,770.00, a P/E ratio of 18.55, a PEG ratio of 1.39 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.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.57%. State Street’s payout ratio is 29.07%.

In related news, Chairman Joseph L. Hooley sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total value of $2,315,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew Erickson sold 354 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $92.00, for a total transaction of $32,568.00. The disclosure for this sale can be found here. Insiders sold 28,724 shares of company stock worth $2,659,741 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on STT. Zacks Investment Research lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Group reiterated a “hold” rating and set a $107.00 target price on shares of State Street in a research report on Tuesday, January 9th. Citigroup upgraded shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Wednesday, January 10th. Vining Sparks reiterated a “buy” rating and set a $120.00 target price on shares of State Street in a research report on Monday, January 8th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $114.00 target price on shares of State Street in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. State Street presently has an average rating of “Buy” and an average target price of $101.13.

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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.

Earnings History for State Street (NYSE:STT)

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