Brokerages forecast that State Street Corp (NYSE:STT) will announce $2.91 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for State Street’s earnings. The lowest sales estimate is $2.89 billion and the highest is $2.93 billion. State Street posted sales of $2.99 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 2.7%. The company is scheduled to report its next quarterly earnings report on Friday, January 17th.

On average, analysts expect that State Street will report full year sales of $11.62 billion for the current year, with estimates ranging from $11.60 billion to $11.66 billion. For the next year, analysts forecast that the business will report sales of $11.66 billion, with estimates ranging from $11.58 billion to $11.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow State Street.

State Street (NYSE:STT) last posted its earnings results on Friday, October 18th. The asset manager reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.11. State Street had a net margin of 16.18% and a return on equity of 11.34%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the company posted $1.87 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year.

Several analysts recently issued reports on the stock. Raymond James upped their price target on shares of State Street from $69.00 to $77.00 and gave the company a “strong-buy” rating in a report on Monday, October 21st. They noted that the move was a valuation call. UBS Group upped their price target on shares of State Street from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Evercore ISI assumed coverage on shares of State Street in a report on Wednesday. They issued a “buy” rating and a $75.00 price target on the stock. Morgan Stanley reaffirmed a “sell” rating and issued a $71.00 price target (up from $66.00) on shares of State Street in a report on Monday. Finally, Wells Fargo & Co set a $55.00 price target on shares of State Street and gave the company a “hold” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $71.31.

In other State Street news, CEO Hanley Ronald P. O bought 7,000 shares of the stock in a transaction on Thursday, August 29th. The stock was purchased at an average price of $50.43 per share, for a total transaction of $353,010.00. Following the completion of the purchase, the chief executive officer now directly owns 127,235 shares in the company, valued at $6,416,461.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Willett sold 36,706 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $51.80, for a total transaction of $1,901,370.80. Insiders sold 111,706 shares of company stock worth $7,167,207 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its stake in State Street by 693.4% during the second quarter. CWM LLC now owns 484 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 423 shares during the last quarter. Putnam FL Investment Management Co. bought a new stake in State Street during the second quarter valued at $28,000. Massmutual Trust Co. FSB ADV bought a new stake in State Street during the second quarter valued at $31,000. Reilly Financial Advisors LLC increased its stake in State Street by 91.7% during the third quarter. Reilly Financial Advisors LLC now owns 627 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Finally, NuWave Investment Management LLC increased its stake in State Street by 50.8% during the second quarter. NuWave Investment Management LLC now owns 742 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Shares of NYSE STT remained flat at $$73.01 during trading on Monday. 2,318,358 shares of the stock were exchanged, compared to its average volume of 2,810,944. The company has a market cap of $26.38 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. The business’s fifty day moving average price is $65.42 and its 200-day moving average price is $58.85. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.53. State Street has a twelve month low of $48.62 and a twelve month high of $77.00.

State Street Company Profile

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 and Estimates for State Street (NYSE:STT)

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