State Street (STT) Set to Announce Quarterly Earnings on Tuesday

State Street (NYSE:STT) is set to issue its quarterly earnings data before the market opens on Tuesday, October 15th. Analysts expect the company to announce earnings of $2.08 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company posted $2.17 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts expect State Street to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

State Street Stock Performance

STT stock opened at $89.83 on Monday. State Street has a 1-year low of $62.78 and a 1-year high of $90.80. The firm has a market cap of $27.06 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.30 and a beta of 1.48. The stock has a 50-day moving average price of $84.43 and a 200-day moving average price of $79.06. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.76 per share. The ex-dividend date was Tuesday, October 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.38%. This is an increase from State Street’s previous quarterly dividend of $0.69. State Street’s payout ratio is 56.93%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STT shares. Citigroup upped their price objective on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Bank of America upped their price target on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. The Goldman Sachs Group increased their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Keefe, Bruyette & Woods cut their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.11.

State Street Company Profile

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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.