Earnings Preview: State Street

State Street (STT) is expected to report Q2 earnings before market open Tuesday, July 15, with a conference call scheduled for 9:30 am ET.

Guidance

Analysts are looking for EPS of $1.36 on revenue of $2.60B. The consensus range for EPS is $1.30 to $1.43, while the consensus range for revenue is $2.55B to $2.67B, according to First Call. On June 19, State Street announced a Q2 dividend of 24c per share.

Analyst Views

In recent weeks, a number of analysts have released positive notes about State Street. UBS added the company to their Global Banks Preferred List on June 16. State Street was added to Goldman Sachs' Conviction Buy List on June 11. The firm cited their belief that State Street's tangible common equity may exceed 5% and the company's attractive valuation. On June 9, Bank of America reiterated their Buy rating on State Street after meeting with the company's management, and said the company had enough capital to allay the most conservative investors' concerns. :t