Market Update: State Street Corporation (NYSE:STT) – State Street Global Advisors Expands Suite of Industry ETFs to Provide Investors with More Precise Exposure to Technology Hardware and Internet Sub-Industries

[Business Wire] – State Street Global Advisors , the asset management business of State Street Corporation, today announced that the SPDR® S&P® Technology Hardware ETF and the SPDR® S&P® Internet ETF began trading on the NYSE Arca. Read more on this. State Street Corporation (STT) , with a current value of $20.30B, started the session at $51.80. Looking at today’s trading action, the company’s one day range from $50.62 to $51.94 with its 52-week range being $50.60 to $81.26. Priced at 10.65x this year’s forecasted earnings, STT shares are relatively expensive compared to the industry’s -53.33x forward p/e ratio. The company pays shareholders $1.36 per share annually in dividends, yielding 2.47%. According to a consensus of 18 analysts, the earnings estimate of $1.26 per share would be $0.11 worse than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $4.77 which would be a $0.12 worse than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.65 Billion. If reported, that would be a 2.93% decrease over the year-ago quarter. Recently, Keefe Bruyette downgraded STT from Mkt Perform to Underperform (Mar 28, 2016). Previously, JP Morgan upgraded STT from Underweight to Neutral. When considering if the stock is under or overvalued, the average price target is $65.69, which is 26.81% above where the stock opened this morning. See more in (NYSE:STT) Similar Articles: Company Update: State Street Corporation (NYSE:STT) – State Street Global Advisors Expands ETF Offering With Launch of the SPDR® Dorsey Wright® Fixed Income Allocation ETF Stock Update: State Street Corporation (NYSE:STT) – State Street Global Advisors Finds Investors are Adopting Factor-Based Models in Low Return Environment Company Update: State Street Corporation (NYSE:STT) – GE and State Street Corporation Announce Agreement for State Street to Acquire GE Asset Management for up to $485 Million