State Street Corporation (NYSE:STT) financial products and services provider, is expected to report second quarter earnings results, before market open, on Friday 17th July 2020.
Analysts polled by Thomson Reuters anticipate second quarter income of $ 1.61 per share.
Looking ahead, the full year income are expected at $ 6.11 per share on the revenues of $ 11548.00 million.
Previous Quarter Performance
State Street Corporation came out with income for the first quarter of $ 1.67 per share, from the revenue of $ 3.06 million. The quarterly earnings gained 34.68 percent while revenues contracted 99.90 percent compared with the same quarter last year.
According to street consensus, STT was expected to report 1Q20 income of $ 1.35 per share from revenue of $ 2903.30 million. The bottom line results beat street analysts by $ 0.32 or 23.70 percent, at the same time, top line results fell short of analysts by $ 2 million or 99.89 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of STT was $ 64.52, representing a 53.25 % increase from the 52 week low of $ 42.10 and a 24.88 % decrease over the 52 week high of $ 85.89.
The company has a market capital of $ 22.71 billion and is part of the Financial Services sector and Asset Management industry.
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Recent Analyst recommendations
On 10th July 2020, maintained by Bank of America at Buy rating, with $ 71.00 target price.
On 9th July 2020, maintained by Deutsche Bank at Hold rating, with $ 67.00 target price.
On 9th July 2020, downgraded by Wolfe Research to Peer Perform from Outperform rating.
On 8th July 2020, initiated by Seaport Global Securities at Buy rating, with $ 83.00 target price.
On 25th June 2020, maintained by Morgan Stanley at Underweight rating, with $ 67.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.52 per share on May 20, 2020. The dividend were payable on July 16, 2020 to holders of record as of the close of business on July 1, 2020 and ex-dividend date on June 30, 2020.
Conference Call
State Street Corporation will be hosting a conference call at 10:00 AM eastern time on 17th July 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.statestreet.com
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. The company also provides investment management strategies and products, such as core and enhanced indexing, multi-asset strategies, active quantitative and fundamental active capabilities, and alternative investment strategies.
