$1.88 EPS Expected for State Street Co. (NYSE:STT) This Quarter

Equities analysts expect State Street Co. (NYSE:STT – Get Rating) to report $1.88 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for State Street’s earnings, with the highest EPS estimate coming in at $1.97 and the lowest estimate coming in at $1.79. State Street posted earnings per share of $1.97 during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.6%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that State Street will report full year earnings of $7.86 per share for the current fiscal year, with EPS estimates ranging from $7.53 to $8.10. For the next financial year, analysts forecast that the business will post earnings of $9.88 per share, with EPS estimates ranging from $9.35 to $10.40. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover State Street.

State Street (NYSE:STT – Get Rating) last posted its quarterly earnings results on Thursday, April 14th. The asset manager reported $1.59 EPS for the quarter, topping the consensus estimate of $1.47 by $0.12. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.03 billion. State Street had a net margin of 22.82% and a return on equity of 11.59%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS.

A number of research firms have weighed in on STT. Citigroup cut shares of State Street from a “buy” rating to a “neutral” rating in a research report on Monday, April 11th. Morgan Stanley lowered their price objective on shares of State Street from $123.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, April 18th. StockNews.com began coverage on shares of State Street in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company cut their price objective on shares of State Street from $104.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, April 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of State Street from $113.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 18th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $102.29.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lumbard & Kellner LLC acquired a new stake in State Street during the third quarter worth approximately $27,000. OLD Second National Bank of Aurora acquired a new stake in shares of State Street in the 4th quarter valued at about $28,000. Covestor Ltd acquired a new stake in shares of State Street in the 4th quarter valued at about $31,000. City State Bank acquired a new position in State Street during the 4th quarter valued at about $33,000. Finally, Confluence Wealth Services Inc. acquired a new position in State Street during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 91.48% of the company’s stock.

Shares of STT stock traded down $1.09 during trading hours on Friday, hitting $70.13. The company’s stock had a trading volume of 1,965,240 shares, compared to its average volume of 2,912,939. The company has a 50 day moving average of $80.72 and a 200 day moving average of $90.60. The stock has a market cap of $25.75 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.61. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.57. State Street has a 12-month low of $66.47 and a 12-month high of $104.87.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Stockholders of record on Friday, April 1st were given a dividend of $0.57 per share. The ex-dividend date was Thursday, March 31st. This represents a $2.28 annualized dividend and a dividend yield of 3.25%. State Street’s dividend payout ratio is currently 30.89%.

About State Street (Get Rating)

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product 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 and enhanced custody products; 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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