State Street (NYSE: STT) Reports Results, Beats Expectations by $ 0.12 Per Share
State Street (NYSE: STT) released its results Thursday. The asset manager reported earnings per share (EPS) of $ 1.47 for the quarter, beating the Thomson Reuters consensus estimate of $ 1.35 by $ 0.12, MarketWatch earnings reports. State Street had a net margin of 20.75% and a return on equity of 12.24%. The company posted revenue of $ 2.95 billion for the quarter, compared to analysts’ expectations of $ 2.85 billion. During the same period of the previous year, the company posted EPS of $ 1.62. The company’s revenue for the quarter was down 3.8% from the same quarter last year.
Actions of STT open for $ 80.43 on Mondays. State Street has a one-year low of $ 51.21 and a one-year high of $ 87.89. The company’s 50-day mobile average price is $ 82.67, and its 200-day mobile average price is $ 73.30. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt ratio of 0.60. The stock has a market cap of $ 28.03 billion, a P / E ratio of 12.08, a P / E / G ratio of 1.11 and a beta of 1.60.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 12. Investors of record on Thursday April 1 received a dividend of $ 0.52 per share. This represents a dividend of $ 2.08 on an annualized basis and a return of 2.59%. The ex-dividend date was Wednesday March 31. State Street’s payout ratio is 33.71%.
A number of equity analysts have commented on the company. Royal Bank of Canada raised its price target on State Street from $ 78.00 to $ 86.00 and gave the stock a “sector performance” rating in a research note on Wednesday, January 20. Barclays raised its price target on State Street shares from $ 99.00 to $ 104.00 and gave the company an “overweight” rating in a report on Wednesday April 7. The Goldman Sachs group downgraded State Street shares from a “buy” rating to a “neutral” rating and lowered their price target for the company from $ 77.00 to $ 75.00 in a rating. looking for Tuesday January 5th. Deutsche Bank Aktiengesellschaft raised its target price on State Street from $ 97.00 to $ 100.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company raised its price target on State Street from $ 83.00 to $ 90.00 and gave the stock an “equal weight” rating in a report on Thursday April 1. A research analyst gave the stock a sell rating, eight issued a hold rating, and six issued a buy rating to the company. State Street currently has an average “Hold” rating and an average price target of $ 82.60.
Meanwhile, Executive Vice President Andrew Erickson sold 11,000 shares of the company in a transaction that took place on Friday, February 26. The stock was sold for an average price of $ 73.30, for a total value of $ 806,300.00. Following the sale, the Executive Vice President now directly owns 58,997 shares of the company, valued at approximately $ 4,324,480.10. The transaction was disclosed in a filing with the SEC, available at the SEC website. In addition, executive vice president Michael L. Richards sold 365 shares of State Street in a trade on Monday, March 1. The shares were sold for an average price of $ 74.61, for a total value of $ 27,232.65. Following the transaction, the Executive Vice President now directly owns 24,420 shares of the company, valued at $ 1,821,976.20. Disclosure of this sale can be found here. During the last quarter, insiders sold 11,898 shares of the company valued at $ 873,183. 0.28% of the stock is currently held by corporate insiders.
State Street Company Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors around the world. It offers investment management products and services, including custody; product accounting; daily pricing and administration; primary trust and primary custody; Bank deposit; record keeping; finance management; currency exchange, brokerage and other business services; financing of securities; short-term deposit and investment facilities; loans and leasing; outsourcing of investment manager and alternative investment manager operations; performance, risk and compliance analysis; and financial data management to support institutional investors.
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