Northern Trust Co. (NASDAQ:NTRS) Expected to Post Earnings of $1.76 Per Share
Brokerages expect that Northern Trust Co. (NASDAQ:NTRS) will report earnings per share (EPS) of $1.76 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Northern Trust’s earnings. The lowest EPS estimate is $1.69 and the highest is $1.89. Northern Trust posted earnings per share of $1.82 during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The firm is expected to announce its next earnings results on Wednesday, January 22nd.
On average, analysts expect that Northern Trust will report full-year earnings of $6.65 per share for the current financial year, with EPS estimates ranging from $6.60 to $6.71. For the next fiscal year, analysts expect that the business will post earnings of $7.11 per share, with EPS estimates ranging from $6.90 to $7.37. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that cover Northern Trust.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.06. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Northern Trust had a return on equity of 15.66% and a net margin of 22.10%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS.
NTRS stock traded up $0.51 during midday trading on Friday, reaching $106.81. The stock had a trading volume of 901,200 shares, compared to its average volume of 1,147,575. The company’s fifty day simple moving average is $98.91 and its 200 day simple moving average is $93.20. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.41. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.70 and a beta of 1.22. Northern Trust has a 52-week low of $75.96 and a 52-week high of $108.45.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, December 12th. This represents a $2.80 annualized dividend and a dividend yield of 2.62%. Northern Trust’s dividend payout ratio is presently 41.60%.
In other news, EVP Robert P. Browne sold 11,534 shares of Northern Trust stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $107.85, for a total transaction of $1,243,941.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas A. South sold 1,000 shares of Northern Trust stock in a transaction on Friday, September 13th. The stock was sold at an average price of $98.54, for a total value of $98,540.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,026 shares of company stock worth $4,364,026. Insiders own 1.15% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NTRS. Litman Gregory Asset Management LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth about $25,000. Trust Co. of Vermont increased its position in shares of Northern Trust by 750.0% during the 2nd quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Kavar Capital Partners LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth about $32,000. Oakworth Capital Inc. acquired a new stake in shares of Northern Trust during the 2nd quarter worth about $34,000. Finally, Smith Asset Management Group LP increased its position in shares of Northern Trust by 90.0% during the 2nd quarter. Smith Asset Management Group LP now owns 380 shares of the asset manager’s stock worth $34,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 81.37% 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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