State Street (STT) to Release Earnings on Tuesday
State Street (NYSE:STT) is scheduled to announce its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.26 per share for the quarter.
State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 18th. The asset manager reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.01. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.96 billion. State Street had a return on equity of 14.44% and a net margin of 20.05%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. On average, analysts expect State Street to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.
Shares of NYSE:STT opened at $70.12 on Tuesday. The stock has a market cap of $26.78 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.19 and a beta of 1.38. State Street has a 1-year low of $57.87 and a 1-year high of $104.33. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.
Several research firms have recently issued reports on STT. Deutsche Bank lowered State Street from a “buy” rating to a “hold” rating and set a $69.95 target price for the company. in a research report on Thursday, March 14th. Bank of America raised State Street from a “neutral” rating to a “buy” rating and set a $66.51 price target for the company in a research report on Friday, January 11th. Zacks Investment Research reiterated a “hold” rating on shares of State Street in a research report on Monday, December 31st. Wells Fargo & Co cut State Street from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. Finally, Evercore ISI upgraded State Street from an “in-line” rating to an “outperform” rating and set a $64.99 price objective on the stock in a research report on Tuesday, January 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $84.78.
In related news, EVP Andrew P. Kuritzkes sold 13,339 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $72.10, for a total value of $961,741.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew Erickson sold 861 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $69.45, for a total value of $59,796.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,389 shares of company stock worth $5,300,338. 0.40% of the stock is currently owned by insiders.
About State Street
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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