State Street Earnings Preview: Analysts Expect Higher EPS, Revenue
State Street (NYSE: STT) announces its next round of earnings this Tuesday, October 18, 2011. Get prepared with Benzinga's ultimate preview for State Street's third quarter earnings.
Earnings and Revenue:
Analysts are predicting an EPS reading of 88 cents/share and revenues of $2.38 billion. State Street's latest numbers will no doubt be compared with the company's year-ago quarter, when it reported a profit of 86 cents/share on revenues of $2.15 billion. We'll have to wait for Tuesday to see if State Street has accomplished the estimated 2.3% rise in EPS and 10.7% increase in revenues on a year-over-year basis.
Here's how the company's reported EPS has stacked up against analyst estimates in the past:
| Quarter | Q2 | Q1 | Q4 | Q3 |
| EPS Estimate | $0.97 | $0.85 | $0.85 | $0.83 |
| EPS Actual | $1.02 | $0.88 | $0.87 | $0.86 |
Stock Performance:
At last check, shares of State Street were trading at $33.80. Shares are down 26.1% year to date. For a full 12 months, the return has declined by 15.8%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.
- Long-term shareholders are already wary of 12-month losses prior to the announcement
Average Stock Rating:
The average rating by analysts for State Street is a Moderate Buy. This rating has strengthened slightly over the past ninety days.
Competitors:
Wondering how State Street compares to rivals in the same sector? Here are a few of the company's peers.
- Bank of America (NYSE: BAC): Hold with a -$0.90 recent quarter EPS
- Bank of New York Mellon (NYSE: BK): Moderate Buy with a $0.59 recent quarter EPS
- Citigroup (NYSE: C): Moderate Buy with a $1.09 recent quarter EPS
- Barclays (BCS): Moderate Buy with a $0.60 recent quarter EPS
State Street is in the banks-major regional industry, which has experienced price/earnings growth of 0.9%.
Finally, a description of the company's main areas of operation: State Street provides a range of investment management strategies, investment management advisory services and other financial services.
Take Action:
That's your advanced look at State Street's upcoming earnings numbers -- be ready to take quick action if the company's report contains any surprises. Also, check back in with us after the announcement for a full recap and what-to-do-next guide.
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