Brokerages Expect Northern Trust Co. (NASDAQ:NTRS) Will Post Earnings of $1.63 Per Share

Wall Street brokerages expect Northern Trust Co. (NASDAQ:NTRS) to announce $1.63 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Northern Trust’s earnings, with the lowest EPS estimate coming in at $1.59 and the highest estimate coming in at $1.68. Northern Trust reported earnings of $1.58 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The business is expected to announce its next quarterly earnings report on Wednesday, October 16th.

On average, analysts expect that Northern Trust will report full-year earnings of $6.60 per share for the current year, with EPS estimates ranging from $6.53 to $6.70. For the next financial year, analysts forecast that the firm will report earnings of $6.95 per share, with EPS estimates ranging from $6.20 to $7.40. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Northern Trust.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm posted $1.68 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis.

NTRS has been the subject of a number of analyst reports. Wells Fargo & Co set a $110.00 price objective on Northern Trust and gave the stock a “buy” rating in a research report on Friday, August 16th. Bank of America restated a “neutral” rating and set a $97.00 price objective (down from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. Zacks Investment Research downgraded Northern Trust from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Morgan Stanley set a $89.00 price objective on Northern Trust and gave the stock a “sell” rating in a research report on Friday, August 9th. Finally, Citigroup downgraded Northern Trust from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $94.00 to $85.00 in a research report on Friday, July 12th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $104.00.

In other Northern Trust news, CFO Biff Bowman sold 46,204 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $92.81, for a total value of $4,288,193.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert P. Browne sold 12,156 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $86.88, for a total value of $1,056,113.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,567 shares of company stock valued at $10,639,832. 1.15% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Northern Trust by 0.5% in the second quarter. BlackRock Inc. now owns 13,947,938 shares of the asset manager’s stock valued at $1,255,316,000 after acquiring an additional 72,688 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Northern Trust by 65.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,482,148 shares of the asset manager’s stock valued at $943,393,000 after acquiring an additional 4,139,159 shares during the period. FMR LLC grew its stake in Northern Trust by 4.8% in the first quarter. FMR LLC now owns 8,605,350 shares of the asset manager’s stock valued at $778,009,000 after acquiring an additional 394,338 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Northern Trust by 6.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,221,336 shares of the asset manager’s stock valued at $559,920,000 after acquiring an additional 390,783 shares during the period. Finally, American Century Companies Inc. grew its stake in Northern Trust by 27.9% in the first quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock valued at $492,916,000 after acquiring an additional 1,190,787 shares during the period. 81.36% of the stock is owned by hedge funds and other institutional investors.

Shares of NTRS stock traded down $2.56 during mid-day trading on Friday, reaching $84.71. 1,126,981 shares of the stock traded hands, compared to its average volume of 1,040,728. The stock’s fifty day simple moving average is $91.76 and its two-hundred day simple moving average is $91.88. Northern Trust has a 1-year low of $75.96 and a 1-year high of $109.72. The company has a market cap of $18.64 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.40.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.70 dividend. This is an increase from Northern Trust’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 12th. Northern Trust’s payout ratio is presently 35.66%.

Northern Trust Company Profile

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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Earnings History and Estimates for Northern Trust (NASDAQ:NTRS)

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