State Street(STT) ZACKS·2024-08-13 17:00Core Viewpoint - State Street Corporation (STT) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Outlook - The Zacks rating upgrade reflects an improvement in State Street's earnings outlook, which is expected to positively impact its stock price [2]. - For the fiscal year ending December 2024, State Street is projected to earn $8.15 per share, representing a year-over-year increase of 6.4% [5]. Earnings Estimate Revisions - Over the past three months, the Zacks Consensus Estimate for State Street has increased by 2.5%, indicating a trend of rising earnings estimates [5]. - The correlation between earnings estimate revisions and near-term stock movements is strong, suggesting that tracking these revisions can be beneficial for investment decisions [4]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell), and has shown an impressive track record of performance [4][6]. - Only the top 20% of Zacks-covered stocks receive a 'Strong Buy' or 'Buy' rating, indicating superior earnings estimate revisions, positioning State Street favorably for potential market-beating returns [6][7].