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State Street (STT) Beat on Q4 Earnings & Revenue Estimates
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Have you been eager to see how State Street (STT - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this MA -based popular company’s earnings release this morning:
An Earnings Beat
State Street came out with adjusted earnings of $1.98 per share, which beat the Zacks Consensus Estimate of $1.70.
Cost saving efforts supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for State Street depicted a bullish stance prior to the earnings release. The Zacks Consensus Estimate moved 3.7% lower over the past 30 days.
Also, State Street has an impressive earnings surprise history. Before posting the earnings beat in Q4, the company delivered positive surprises in three of the trailing four quarters, with an average beat of 4.3%.
State Street posted revenues of $3.05 billion, which beat the Zacks Consensus Estimate of $2.92 billion. Also, the figure was nearly 1% up from the prior-year quarter.
Key Q4 Statistics
Including notable items, earnings came in at $1.73 per share
Expenses decreased 8.8% year over year to $2.27 billion
Assets under custody and administration were $34.4 trillion as of Dec 31, 2019
Assets under management were $3.1 trillion as of Dec 31, 2019
Returned roughly $686 million to shareholders, consisting of $500 million worth of share repurchases and nearly $186 million in dividends
Besides, State Street achieved $415 million in savings in 2019.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #1 (Strong Buy) for State Street. However, is since the latest earnings performance yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Following the earnings release, State Street’s shares were up almost 4% in the pre-trading session. This is in contrast with what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this State Street earnings report!
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.6% per year. So be sure to give these hand-picked 7 your immediate attention.
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State Street (STT) Beat on Q4 Earnings & Revenue Estimates
Have you been eager to see how State Street (STT - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this MA -based popular company’s earnings release this morning:
An Earnings Beat
State Street came out with adjusted earnings of $1.98 per share, which beat the Zacks Consensus Estimate of $1.70.
Cost saving efforts supported the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for State Street depicted a bullish stance prior to the earnings release. The Zacks Consensus Estimate moved 3.7% lower over the past 30 days.
Also, State Street has an impressive earnings surprise history. Before posting the earnings beat in Q4, the company delivered positive surprises in three of the trailing four quarters, with an average beat of 4.3%.
State Street Corporation Price and EPS Surprise
State Street Corporation price-eps-surprise | State Street Corporation Quote
Revenue Came in Higher than Expected
State Street posted revenues of $3.05 billion, which beat the Zacks Consensus Estimate of $2.92 billion. Also, the figure was nearly 1% up from the prior-year quarter.
Key Q4 Statistics
Besides, State Street achieved $415 million in savings in 2019.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #1 (Strong Buy) for State Street. However, is since the latest earnings performance yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
You can see the complete list of today’s Zacks #1 Rank stocks here.
How the Market Reacted So Far
Following the earnings release, State Street’s shares were up almost 4% in the pre-trading session. This is in contrast with what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this State Street earnings report!
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.6% per year. So be sure to give these hand-picked 7 your immediate attention.
See 7 handpicked stocks now >>