State Street (STT) to Release Quarterly Earnings on Friday

State Street (NYSE:STT - Get Free Report) is projected to announce its earnings results before the market opens on Friday, January 17th. Analysts expect the company to announce earnings of $2.29 per share and revenue of $3,267,560.00 billion for the quarter.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the company posted $1.93 earnings per share. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. 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 Price Performance

Shares of NYSE:STT traded up $4.20 during midday trading on Wednesday, reaching $99.64. The company's stock had a trading volume of 3,917,266 shares, compared to its average volume of 1,960,009. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The company has a market capitalization of $29.21 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.24 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The business's fifty day simple moving average is $97.51 and its 200-day simple moving average is $89.20.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.05%. State Street's dividend payout ratio (DPR) is presently 48.03%.

Insider Activity at State Street

In other news, EVP John Plansky sold 13,859 shares of the business's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares of the company's stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company's stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock worth $2,499,860 in the last ninety days. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on STT shares. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $90.00 to $95.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Evercore ISI raised their price target on State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and raised their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, State Street has a consensus rating of "Hold" and an average price target of $100.33.

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.

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