Wall Street analysts predict that Northern Trust Corporation (NASDAQ:NTRS) will report earnings per share of $1.29 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Northern Trust Corporation’s earnings, with the lowest EPS estimate coming in at $1.24 and the highest estimate coming in at $1.36. Northern Trust Corporation posted earnings per share of $1.11 in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.2%. The firm is scheduled to report its next earnings report on Wednesday, January 17th.
According to Zacks, analysts expect that Northern Trust Corporation will report full year earnings of $4.69 per share for the current financial year, with EPS estimates ranging from $4.65 to $4.74. For the next financial year, analysts expect that the company will post earnings of $5.32 per share, with EPS estimates ranging from $5.05 to $5.55. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Northern Trust Corporation.
Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.08. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Northern Trust Corporation had a net margin of 20.27% and a return on equity of 12.33%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS.
Several equities research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Northern Trust Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $90.00 price objective for the company. BidaskClub downgraded Northern Trust Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. UBS AG increased their price objective on Northern Trust Corporation from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $86.00 price objective (down previously from $91.00) on shares of Northern Trust Corporation in a report on Saturday, July 22nd. Finally, Zacks Investment Research downgraded Northern Trust Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $97.07.
In other Northern Trust Corporation news, EVP Aileen B. Blake sold 1,000 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $94.00, for a total transaction of $94,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Clair Joyce St sold 13,814 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $89.32, for a total value of $1,233,866.48. The disclosure for this sale can be found here. Insiders have sold a total of 338,082 shares of company stock valued at $31,732,330 in the last ninety days. Insiders own 1.27% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Boston Advisors LLC increased its position in Northern Trust Corporation by 6,051.0% during the 2nd quarter. Boston Advisors LLC now owns 160,540 shares of the asset manager’s stock worth $15,606,000 after buying an additional 157,930 shares during the period. Schwab Charles Investment Management Inc. increased its position in Northern Trust Corporation by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 675,307 shares of the asset manager’s stock worth $65,647,000 after buying an additional 26,164 shares during the period. Principal Financial Group Inc. increased its position in Northern Trust Corporation by 0.7% during the 2nd quarter. Principal Financial Group Inc. now owns 337,497 shares of the asset manager’s stock worth $32,808,000 after buying an additional 2,298 shares during the period. Eaton Vance Management increased its position in Northern Trust Corporation by 0.3% during the 2nd quarter. Eaton Vance Management now owns 753,651 shares of the asset manager’s stock worth $73,262,000 after buying an additional 2,397 shares during the period. Finally, Delta Lloyd Asset Management N.V. bought a new position in Northern Trust Corporation during the 2nd quarter worth $2,799,000. Hedge funds and other institutional investors own 82.00% of the company’s stock.
Shares of Northern Trust Corporation (NASDAQ NTRS) traded up $0.35 on Friday, hitting $92.51. 852,500 shares of the stock traded hands, compared to its average volume of 1,360,846. The company has a market cap of $21,038.73, a PE ratio of 20.20, a P/E/G ratio of 2.04 and a beta of 0.96. Northern Trust Corporation has a one year low of $78.06 and a one year high of $99.30. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.37.
Northern Trust Corporation announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 18th that allows the company to buyback 9,500,000 shares. This buyback authorization allows the asset manager to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.82%. The ex-dividend date is Thursday, November 30th. Northern Trust Corporation’s dividend payout ratio is 37.17%.
About Northern Trust Corporation
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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