Company Update: State Street Corporation (NYSE:STT) – State Street Global Advisors and DoubleLine Capital Expand Actively Managed Fixed Income ETF Offering

[Business Wire] – State Street Global Advisors , the asset management business of State Street Corporation , announced today that the SPDR DoubleLine Short Duration Total Return Tactical ETF and SPDR DoubleLine Emerging Markets Fixed Income ETF began trading on the Bats Global Markets. Read more on this. State Street Corporation (STT) , valued at $23.78B, opened this morning at $59.57. Shares have traded today between $59.29 and $60.20 per share with its 52-week range being $50.73 to $81.26. Priced at 12.58x this year’s forecasted earnings, STT shares are relatively expensive compared to the industry’s 10.81x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $1.36 per share annually in dividends, yielding 2.40%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $0.91 per share, which would be $0.26 worse than the year-ago quarter and a $0.12 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.75 would be 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 $2.56 Billion. If realized, that would be a 4.48% 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 is $63.06, which is 5.86% above where the stock opened this morning. See more in (NYSE:STT) Similar Articles: 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 Company Update: State Street Corporation (NYSE:STT) – State Street Global Advisors Chief Executive Officer, Ronald O’Hanley, to Present at the 2015 Bank of America Merrill Lynch Banking and Financials Conference Company Update: State Street Corporation (NYSE:STT) – State Street’s GX Private Equity Index Shows Fund Distributions Continue to Outpace Capital Drawdowns, Driving the Quarterly Return to 4.2% in the Second Quarter of 2015