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

[Business Wire] – State Street Global Advisors , the asset management business of State Street Corporation , today announced that the SPDR Dorsey Wright Fixed Income Allocation ETF began trading on the Nasdaq Stock Market, SSGA’s first SPDR ETF to be listed on this exchange. Read more on this. State Street Corporation (STT) , currently valued at $24.89B, opened at $62.90. Today, shares have traded between $62.38 and $62.97 per share and has traded between $50.73 and $81.26 over the past year. STT shares are currently priced at 13.28x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -57.58x earnings multiple for the same period. The company pays shareholders $1.36 per share annually in dividends, yielding 2.16%. 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 $0.01 sequential decrease. Investors should also note that the full-year EPS estimate of $4.75 is a $0.14 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.65 Billion. If realized, that would be a 2.93% decrease over the year-ago quarter. More recently, Keefe Bruyette downgraded STT from Mkt Perform to Underperform (Mar 28, 2016). Previously, JP Morgan upgraded STT from Underweight to Neutral. The average price target for STT shares by the analysts covering it is $65.78, which is 4.58% above where the stock opened. See more in (NYSE:STT) Similar Articles: 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) – State Street Global Advisors and DoubleLine Capital Expand Actively Managed Fixed Income ETF Offering 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