$1.46 Billion in Sales Expected for Northern Trust Co. (NTRS) This Quarter
Analysts expect Northern Trust Co. (NASDAQ:NTRS) to report sales of $1.46 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Northern Trust’s earnings. The highest sales estimate is $1.47 billion and the lowest is $1.44 billion. Northern Trust reported sales of $1.48 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The company is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, April 23rd.
On average, analysts expect that Northern Trust will report full year sales of $6.02 billion for the current year, with estimates ranging from $5.98 billion to $6.08 billion. For the next fiscal year, analysts expect that the company will report sales of $6.24 billion, with estimates ranging from $6.14 billion to $6.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Northern Trust.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, January 23rd. The asset manager reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.19. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Northern Trust had a return on equity of 16.62% and a net margin of 23.37%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.51 EPS.
Several hedge funds have recently modified their holdings of NTRS. First Mercantile Trust Co. grew its holdings in shares of Northern Trust by 63.6% during the fourth quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock valued at $30,000 after buying an additional 140 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Northern Trust by 66.0% during the fourth quarter. Synovus Financial Corp now owns 503 shares of the asset manager’s stock valued at $43,000 after buying an additional 200 shares in the last quarter. Exane Asset Management purchased a new position in shares of Northern Trust during the fourth quarter valued at $44,000. Rehmann Capital Advisory Group grew its holdings in shares of Northern Trust by 161.3% during the third quarter. Rehmann Capital Advisory Group now owns 473 shares of the asset manager’s stock valued at $48,000 after buying an additional 292 shares in the last quarter. Finally, Kaizen Advisory LLC grew its holdings in shares of Northern Trust by 20.3% during the fourth quarter. Kaizen Advisory LLC now owns 645 shares of the asset manager’s stock valued at $54,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds own 78.95% of the company’s stock.
Shares of NASDAQ NTRS traded up $0.23 during mid-day trading on Thursday, reaching $93.63. The company had a trading volume of 836,581 shares, compared to its average volume of 1,216,483. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.32 and a beta of 1.06. Northern Trust has a 1-year low of $75.96 and a 1-year high of $115.61.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a dividend of $0.60 per share. This is an increase from Northern Trust’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.56%. Northern Trust’s payout ratio is currently 35.66%.
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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