Analysts on Wall Street project that State Street Corporation (STT) will announce quarterly earnings of $2.42 per share in its forthcoming report, representing an increase of 18.6% year over year. Revenues are projected to reach $3.31 billion, increasing 8.7% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 2.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific State Street metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Basel III Advanced Approaches - Tier 1 Leverage Ratio' will reach 5.3%. Compared to the current estimate, the company reported 5.5% in the same quarter of the previous year.
Analysts expect 'Average balance - Total interest-earning assets' to come in at $265.70 billion. The estimate is in contrast to the year-ago figure of $232.23 billion.
The consensus estimate for 'Basel III Standardized Approach - Tier 1 capital ratio' stands at 13.4%. The estimate is in contrast to the year-ago figure of 13.4%.
The combined assessment of analysts suggests that 'Assets under Management (AUM)' will likely reach $4,785.94 billion. The estimate is in contrast to the year-ago figure of $4,128 billion.
Based on the collective assessment of analysts, 'Basel III Standardized Approach - Total capital ratio' should arrive at 14.4%. Compared to the present estimate, the company reported 15.2% in the same quarter last year.
Analysts forecast 'Assets under Custody and/or Administration (AUC/A)' to reach $40,312.27 billion. Compared to the present estimate, the company reported $41,810 billion in the same quarter last year.
According to the collective judgment of analysts, 'Net Interest Income' should come in at $734.49 million. The estimate compares to the year-ago value of $678 million.
The collective assessment of analysts points to an estimated 'Total fee revenue' of $2.58 billion. Compared to the current estimate, the company reported $2.37 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Net Interest Income - fully taxable-equivalent basis' reaching $735.50 million. Compared to the current estimate, the company reported $679 million in the same quarter of the previous year.
It is projected by analysts that the 'Software and processing fees' will reach $234.64 million. The estimate compares to the year-ago value of $237 million.
Analysts predict that the 'Other fee revenue' will reach $50.98 million. The estimate compares to the year-ago value of $33 million.
The average prediction of analysts places 'Management fees' at $530.90 million. The estimate is in contrast to the year-ago figure of $479 million.
View all Key Company Metrics for State Street here>>>
Shares of State Street have experienced a change of -6.3% in the past month compared to the -3.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), STT is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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