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

State Street (NYSE:STT) will be releasing its earnings data before the market opens on Tuesday, October 15th. Analysts expect State Street to post earnings of $2.08 per share for the quarter. Parties that wish to listen to the company’s 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 (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $2.17 earnings per share. 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 opened at $89.83 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.30 and a beta of 1.48. State Street has a 52-week low of $62.78 and a 52-week high of $90.80. The firm’s fifty day simple moving average is $84.43 and its two-hundred day simple moving average is $79.06.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.76 per share. This is a boost from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 3.38%. The ex-dividend date was Tuesday, October 1st. State Street’s dividend payout ratio (DPR) is presently 56.93%.

Analysts Set New Price Targets

A number of brokerages have weighed in on STT. Deutsche Bank Aktiengesellschaft lifted their price target on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Citigroup boosted their price target on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods lowered their target price on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada upped their price target on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley upped their price objective on shares of State Street from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, State Street has a consensus rating of “Hold” and an average target price of $90.11.

About State Street

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.