State Street (NYSE:STT) Announces Earnings Results

State Street (NYSE:STT) released its earnings results on Tuesday. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14, Briefing.com reports. State Street had a net margin of 8.98% and a return on equity of 11.78%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the firm earned $1.93 EPS. The business’s quarterly revenue was up 21.1% compared to the same quarter last year.

State Street Stock Performance

Shares of STT opened at $92.93 on Thursday. The firm’s fifty day simple moving average is $85.33 and its two-hundred day simple moving average is $79.35. State Street has a 12 month low of $62.78 and a 12 month high of $94.60. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $27.75 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STT. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. The Goldman Sachs Group lifted their price target 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 dropped their price objective on 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. Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $91.39.

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.