State Street Corporation (NYSE:STT) traded at $87.03 at close of the session on Tuesday, 01/24/23, made an upward move of 0.94% on its previous day’s price.
Looking at the stock we see that its previous close was $86.22 and the beta (5Y monthly) reads 1.58 with the day’s price range being $75.03 – $87.91. The company has a trailing 12-month PE ratio of 12.33. In terms of its 52-week price range, STT has a high of $103.76 and a low of $58.62. The company’s stock has gained about 10.57% over that past 30 days.
State Street Corporation has a market cap of $30.51 billion and is expected to release its quarterly earnings report on Apr 12, 2023 – Apr 17, 2023. With its Forward Dividend at 2.52 and a yield of 2.90%, the company’s investors could be anxious for the STT stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $1.81, with the EPS growth for the year raised at $7.15 for 2022 and $8.29 for next year. These figures represent -3.90% and 15.90% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $2.96 billion, with a low of $2.93 billion and a high of $3.06 billion. The median projection represents growth adding up to -3.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $11.96 billion, or -0.60% down from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the STT stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note that the PEG ratio for the STT stock currently stands at 1.59, and the current price level is 8.24% off its SMA20 and 10.38% from its 50-day simple moving average. The RSI (14) is pointing at 70.28 while the volatility over the past week is 5.79% and jumps to 2.94% over the past one month. The beta value is 1.58, while the average true range (ATR) is currently pointing at 2.97.
Let’s briefly compare State Street Corporation (STT) stock to its peers. We find that current price change of 0.94% and -4.35% over the past 12 months for STT competes that of Bank of America Corporation (BAC), which has seen its stock price rise 0.73% in the last trading session and was -23.04% over the last one year. Another of its peers Morgan Stanley (MS) has dropped -1.67% previous session, and was -3.39% down over the past year, while The Goldman Sachs Group Inc. (GS) was also down -0.23% in the last session, while its price remained in the green at 1.29% over the same period. State Street Corporation has a P/E ratio of 12.33 compared to Bank of America Corporation’s 10.86 and Morgan Stanley’s 15.57. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.
Coming back to State Street Corporation (NYSE:STT), we note that the average 3-month trading volume was 2.81 million, while that of the preceding 10-day period stands at 3.58 million. Current shares outstanding are 367.79 million.
The insiders hold 0.10% of the company’s shares while institutions hold 91.60%. The data shows that short shares as of Oct 13, 2022, stood at 2.41 million at a short ratio of 1.19. This represents a 0.66% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 2.69 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 12.20% up in year-to-date price movement.