State Street (STT) to Release Earnings on Friday

State Street (NYSE:STT) will post its quarterly earnings results 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 announced its earnings results on Tuesday, April 23rd. The asset manager reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.05. State Street had a return on equity of 13.44% and a net margin of 18.77%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the company posted $1.62 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts expect State Street to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

NYSE STT opened at $54.59 on Thursday. The company has a fifty day moving average price of $55.75. State Street has a one year low of $53.53 and a one year high of $95.68. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.52. The firm has a market cap of $20.32 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.89 and a beta of 1.40.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, July 1st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, June 28th. State Street’s dividend payout ratio is currently 26.04%.

Several research analysts recently commented on the company. Morgan Stanley set a $36.00 price objective on ArcBest and gave the company a “hold” rating in a research note on Monday, July 8th. Buckingham Research reduced their price objective on State Street from $83.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Zacks Investment Research raised Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, June 4th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Co set a $32.00 price objective on Farfetch and gave the company a “buy” rating in a research note on Wednesday, June 12th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. State Street currently has a consensus rating of “Hold” and a consensus price target of $70.52.

In related news, Director Gregory L. Summe bought 3,000 shares of the company’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 filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey N. Carp sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $63.22, for a total value of $1,580,500.00. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate 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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Earnings History for State Street (NYSE:STT)

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