Brokerages predict that State Street Corp (NYSE:STT) will report $3.06 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for State Street’s earnings, with estimates ranging from $3.03 billion to $3.11 billion. State Street reported sales of $2.85 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.4%. The company is scheduled to issue its next earnings results on Tuesday, January 22nd.

On average, analysts expect that State Street will report full-year sales of $12.07 billion for the current fiscal year, with estimates ranging from $12.02 billion to $12.16 billion. For the next fiscal year, analysts forecast that the company will post sales of $12.63 billion, with estimates ranging from $12.38 billion to $12.94 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for State Street.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($0.02). State Street had a return on equity of 14.99% and a net margin of 19.90%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the company posted $1.71 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year.

A number of research analysts have issued reports on the company. Credit Suisse Group reduced their price objective on State Street from $110.00 to $103.00 and set a “$87.02” rating for the company in a research note on Monday, July 23rd. Barclays dropped their price objective on State Street from $120.00 to $110.00 and set a “$87.02” rating on the stock in a report on Monday, July 23rd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $100.00 price objective on shares of State Street in a report on Monday, July 23rd. Wells Fargo & Co set a $105.00 price objective on State Street and gave the stock a “buy” rating in a report on Thursday, August 16th. Finally, Deutsche Bank dropped their price objective on State Street from $102.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $103.07.

State Street stock traded down $1.66 during trading on Tuesday, hitting $66.39. 5,182,225 shares of the company were exchanged, compared to its average volume of 3,473,604. State Street has a 52 week low of $66.23 and a 52 week high of $114.27. The company has a market capitalization of $24.29 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.97 and a beta of 1.22. The company has a current ratio of 0.50, a quick ratio of 0.52 and a debt-to-equity ratio of 0.50.

In related news, insider Jeff D. Conway sold 343 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $83.16, for a total transaction of $28,523.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Saint-Aignan Patrick De acquired 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were purchased at an average cost of $68.62 per share, for a total transaction of $34,310.00. Following the completion of the acquisition, the director now owns 25,138 shares in the company, valued at approximately $1,724,969.56. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 26,954 shares of company stock worth $2,237,777. Insiders own 0.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont grew its position in State Street by 15.8% during the 2nd quarter. Trust Co. of Vermont now owns 4,252 shares of the asset manager’s stock worth $396,000 after acquiring an additional 580 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of State Street by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 35,179 shares of the asset manager’s stock valued at $3,275,000 after purchasing an additional 604 shares during the period. IFP Advisors Inc lifted its stake in shares of State Street by 17.8% in the 2nd quarter. IFP Advisors Inc now owns 4,200 shares of the asset manager’s stock valued at $391,000 after purchasing an additional 635 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of State Street by 36.1% in the 2nd quarter. SRS Capital Advisors Inc. now owns 2,431 shares of the asset manager’s stock valued at $226,000 after purchasing an additional 645 shares during the period. Finally, Dowling & Yahnke LLC lifted its stake in shares of State Street by 2.9% in the 2nd quarter. Dowling & Yahnke LLC now owns 23,526 shares of the asset manager’s stock valued at $2,190,000 after purchasing an additional 660 shares during the period. 86.89% of the stock is currently owned by institutional investors.

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; 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.

Featured Article: Short Selling Stocks, A Beginner’s Guide

Get a free copy of the Zacks research report on State Street (STT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.