State Street Corporation (NYSE:STT) is set to announce third quarter earning results on Friday 16th October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, STT to report 3Q20 income of $ 1.41 per share.
For the full year, analysts anticipate top line of $ 11609.50 million, while looking forward to income of $ 6.47 per share bottom line.
Previous Quarter Performance
State Street Corporation unwinded income for the second quarter of $ 1.88 per share, from the revenue of $ 2,937.00 million. The quarterly earnings escalated 29.66 percent while revenues up 2.23 percent compared with the same quarter last year.
Street analysts expected State Street Corporation to report income of $ 1.61 per share on revenue of $ 2865.52 million for the second quarter. The bottom line results beat street analysts by $ 0.27 or 16.77 percent, at the same time, top line results outshined analysts by $ 71.48 million or 2.49 percent.
Stock Performance
Shares of State Street Corporation traded up $ 0.92 or 1.39 percent on Thursday, reaching $ 66.95 with volume of 2.15 million shares. State Street Corporation has traded high as $ 67.08 and has cracked $ 65.04 on the downward trend
According to the previous trading day, closing price of $ 66.95, representing a 56.84 % increase from the 52 week low of $ 42.10 and a 23.12 % decrease over the 52 week high of $ 85.89.
The company has a market capital of $ 23.59 billion and is part of the Financial Services sector and Asset Management industry.
Recent Analyst recommendations
- On 6th October 2020, maintained by UBS Group at Neutral rating, with $ 60.00 target price.
- On 5th October 2020, maintained by Morgan Stanley at Underweight rating, with $ 66.00 target price.
- On 1st September 2020, maintained by Morgan Stanley at Underweight rating, with $ 69.00 target price.
Conference Call
State Street Corporation will be hosting a conference call at 10:00 AM eastern time on 16th October 2020, to discuss its 3Q20 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.
