Wall Street brokerages predict that Northern Trust Co. (NASDAQ:NTRS) will report $1.49 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Northern Trust’s earnings, with estimates ranging from $1.48 billion to $1.51 billion. Northern Trust reported sales of $1.55 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.9%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, January 21st.
According to Zacks, analysts expect that Northern Trust will report full year sales of $6.09 billion for the current fiscal year, with estimates ranging from $6.06 billion to $6.13 billion. For the next year, analysts expect that the company will post sales of $6.08 billion, with estimates ranging from $6.03 billion to $6.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Northern Trust.
Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, October 21st. The asset manager reported $1.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.06). Northern Trust had a return on equity of 13.07% and a net margin of 20.72%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $1.69 EPS. Northern Trust’s quarterly revenue was down 3.4% compared to the same quarter last year.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, October 17th. Smith Barney Citigroup boosted their price target on shares of Northern Trust from $82.00 to $86.00 in a research report on Friday, October 23rd. Credit Suisse Group boosted their price target on shares of Northern Trust from $87.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Northern Trust from $82.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, November 11th. Finally, ValuEngine raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, November 10th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $89.84.
Northern Trust stock opened at $91.39 on Thursday. Northern Trust has a 52-week low of $60.67 and a 52-week high of $110.48. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.23 and a beta of 1.06. The company has a fifty day simple moving average of $84.42 and a 200-day simple moving average of $81.14. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.48.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 11th will be given a $0.70 dividend. The ex-dividend date is Thursday, December 10th. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. Northern Trust’s payout ratio is currently 42.23%.
In other Northern Trust news, EVP Teresa Parker sold 2,289 shares of the company’s stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $94.26, for a total value of $215,761.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Clair Joyce St sold 29,154 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $90.05, for a total transaction of $2,625,317.70. The disclosure for this sale can be found here. Insiders sold 38,560 shares of company stock worth $3,430,936 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC purchased a new stake in Northern Trust during the third quarter worth about $259,000. IHT Wealth Management LLC purchased a new stake in Northern Trust during the third quarter worth about $369,000. Public Employees Retirement System of Ohio increased its stake in Northern Trust by 10.4% during the third quarter. Public Employees Retirement System of Ohio now owns 79,483 shares of the asset manager’s stock worth $6,197,000 after purchasing an additional 7,477 shares during the period. Worldquant Millennium Advisors LLC increased its stake in Northern Trust by 0.8% during the third quarter. Worldquant Millennium Advisors LLC now owns 17,262 shares of the asset manager’s stock worth $1,346,000 after purchasing an additional 134 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Northern Trust during the third quarter worth about $439,000. Institutional investors own 81.03% of the company’s stock.
About Northern Trust
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.
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