State Street Corporation STT is scheduled to report its first quarter 2016 results before the market opens on Wednesday, Apr 27.Last quarter, lower expenses drove State Street to beat the Zacks Consensus Estimate. However, continued low interest rate environment and a strengthening U.S. dollar adversely impacted the operating revenues.Notably, State Street has surpassed the Zacks Consensus Estimates in three of the trailing four quarters, as shown in the chart below: Hence, will State Street be able to maintain its earnings streak? Let’s check what our quantitative model predicts.Our proven model does not conclusively show that State Street will be able to beat earnings this time. Note that a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy) or at least 2 (Buy) or 3 (Hold) to have a significantly higher chance of beating earnings.Zacks ESP: The Earnings ESP for State Street is 0.00%. This is because both the Most Accurate estimate and the Zacks Consensus Estimate stand at 88 cents.Zacks Rank: State Street’s Zacks Rank #3 increases the predictive power of ESP. But we need to have positive ESP to be sure of earnings beat.Factors to InfluenceState Street has started its next phase of transformation program, which is expected to achieve cost savings during the quarter. Also, a prudent expense management and enhanced capabilities – better initiatives on information technology and funding growth – remain the company’s main priorities.Further, management anticipates regulatory compliance costs to trend lower. Hence, overall operating expenses are expected to remain stable in the first quarter 2016.Nonetheless, in the first quarter, compensation and employee benefits expense will be seasonally higher in a range of nearly $130–$140 million due to the effect of accounting treatment of equity compensation for retirement-eligible employees as well as for payroll taxes and associated benefits.On the revenue front, though management believes continued weakness in equity markets will hurt top line generation, net interest income is expected to rise, driven by the benefits from the Dec 2015 rate hike. However, given the huge sell-offs in the equity markets in January and February and strengthening of the U.S. dollar, fee income is likely be adversely impacted.On the whole, total revenue is expected to witness stable growth in the quarter.State Street was unable to impress analysts with its level of activities during the quarter. As a result, the Zacks Consensus Estimate for the quarter has remained stable at 88 cents per share over the last seven days.Stocks That Warrant a LookHere are some stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this quarter:Affiliated Managers Group Inc. AMG has an Earnings ESP of +0.68% and carries a Zacks Rank #2 (Buy). It is expected to report results on Apr 26.The Earnings ESP for Waddell & Reed Financial, Inc. WDR is +1.82%. The company carries a Zacks Rank #3, and is slated to report on Apr 26.Federated Investors, Inc. FII has an Earnings ESP of +2.33% and carries a Zacks Rank #3. The company is scheduled to report results on Apr 28.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report STATE ST CORP (STT): Free Stock Analysis Report WADDELL&REED -A (WDR): Free Stock Analysis Report FEDERATED INVST (FII): Free Stock Analysis Report AFFIL MANAGERS (AMG): Free Stock Analysis Report To read this article on Zacks.com click here.