Brokerages expect that State Street Corp (NYSE:STT) will report earnings of $1.89 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for State Street’s earnings, with the highest EPS estimate coming in at $2.03 and the lowest estimate coming in at $1.82. State Street posted earnings per share of $1.83 in the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The company is scheduled to report its next earnings results on Tuesday, January 22nd.

According to Zacks, analysts expect that State Street will report full year earnings of $7.44 per share for the current year, with EPS estimates ranging from $7.37 to $7.55. For the next year, analysts expect that the firm will report earnings of $7.72 per share, with EPS estimates ranging from $7.19 to $8.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for State Street.

State Street (NYSE:STT) last posted its quarterly earnings data 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 firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the firm posted $1.71 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis.

STT has been the topic of several research analyst reports. Credit Suisse Group lowered their price objective on State Street from $110.00 to $103.00 and set a “$87.02” rating on the stock in a report on Monday, July 23rd. Barclays lowered 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. Deutsche Bank lowered 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. 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, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $100.00 price objective on shares of State Street in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $102.47.

In related news, Director Saint-Aignan Patrick De bought 500 shares of the stock in a transaction dated Tuesday, October 23rd. The shares were acquired at an average cost of $68.62 per share, for a total transaction of $34,310.00. Following the acquisition, the director now directly owns 25,138 shares in the company, valued at approximately $1,724,969.56. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Louis D. Maiuri bought 740 shares of the stock in a transaction dated Wednesday, October 24th. The shares were bought at an average price of $67.60 per share, for a total transaction of $50,024.00. Following the completion of the acquisition, the executive vice president now owns 45,314 shares in the company, valued at $3,063,226.40. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB lifted its holdings in State Street by 15.4% in the second quarter. Xact Kapitalforvaltning AB now owns 96,524 shares of the asset manager’s stock valued at $8,985,000 after acquiring an additional 12,912 shares during the last quarter. Atria Investments LLC lifted its holdings in State Street by 10.1% in the second quarter. Atria Investments LLC now owns 14,399 shares of the asset manager’s stock valued at $1,340,000 after acquiring an additional 1,320 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in State Street in the second quarter valued at approximately $329,000. Calamos Advisors LLC lifted its holdings in State Street by 13.1% in the second quarter. Calamos Advisors LLC now owns 55,900 shares of the asset manager’s stock valued at $5,204,000 after acquiring an additional 6,495 shares during the last quarter. Finally, Westpac Banking Corp lifted its holdings in State Street by 3.0% in the second quarter. Westpac Banking Corp now owns 364,502 shares of the asset manager’s stock valued at $33,931,000 after acquiring an additional 10,648 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

STT stock traded down $1.65 during trading on Thursday, hitting $70.12. The stock had a trading volume of 65,824 shares, compared to its average volume of 3,312,086. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. State Street has a twelve month low of $65.81 and a twelve month high of $114.27. The stock has a market cap of $27.19 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.05 and a beta of 1.34.

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.

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

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