For its third fiscal quarter (ending September 30), State Street Corporation (NYSE: STT) has reported a 80% increase in E.P.S. from $1.27 a year ago to $2.29 in the current quarter. This result exceeded the consensus estimate of $2.12 by $0.17. For the latest four quarters through September 30, E.P.S. were $6.41 compared to $6.97 a year ago — a decline of -8%.
Recent Price Action
State Street Corporation (NYSE: STT) stock closed at $91.82 on 10/15/24 after a modest gain of 1.0%. Moreover, this advance was accompanied by exceptionally high trading volume at 276% of normal. The stock has been strong relative to the market over the last nine months and has risen 5.0% during the last week.
Current PriceTarget Research Rating
STT’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
State Street has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. State Street has a good Power Rating of 81 and a very high Appreciation Score of 92, leading to the Highest Value Trend Rating.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
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