State Street (NYSE:STT) will release its earnings data before the market opens on Friday, July 19th. Analysts expect State Street to post earnings of $1.50 per share for the quarter.
State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. State Street had a net margin of 18.77% and a return on equity of 13.44%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 earnings per share. On average, analysts expect State Street to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.
Shares of State Street stock opened at $55.04 on Friday. The stock has a 50-day moving average price of $56.22. The firm has a market capitalization of $20.35 billion, a P/E ratio of 7.62, a P/E/G ratio of 0.87 and a beta of 1.40. State Street has a fifty-two week low of $53.53 and a fifty-two week high of $95.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.45 and a current ratio of 0.45.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Monday, July 1st will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.42%. State Street’s dividend payout ratio (DPR) is currently 26.04%.
In other State Street news, Director Gregory L. Summe acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $64.50 per share, for a total transaction of $193,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey N. Carp sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $63.22, for a total transaction of $1,580,500.00. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.
A number of brokerages have weighed in on STT. Bank of America set a $20.00 price objective on shares of Fiat Chrysler Automobiles and gave the stock a “hold” rating in a research report on Thursday, June 6th. Zacks Investment Research upgraded shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Tuesday, June 4th. Wells Fargo & Co set a $32.00 price target on shares of Farfetch and gave the stock a “buy” rating in a research report on Wednesday, June 12th. UBS Group upped their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. State Street currently has an average rating of “Hold” and an average price target of $70.52.
State Street Company Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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