Northern Trust Corporation (NTRS) Expected to Announce Earnings of $1.29 Per Share
Brokerages expect Northern Trust Corporation (NASDAQ:NTRS) to post earnings per share (EPS) of $1.29 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Northern Trust Corporation’s earnings. The lowest EPS estimate is $1.24 and the highest is $1.36. Northern Trust Corporation reported earnings per share of $1.11 during the same quarter last year, which indicates a positive year over year growth rate of 16.2%. The firm is scheduled to announce its next earnings results on Wednesday, January 17th.
On average, analysts expect that Northern Trust Corporation will report full-year earnings of $4.69 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $4.74. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.32 per share, with EPS estimates ranging from $5.05 to $5.55. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Northern Trust Corporation.
Northern Trust Corporation (NASDAQ:NTRS) last released its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.08. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust Corporation had a net margin of 20.27% and a return on equity of 12.33%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS.
A number of equities analysts have issued reports on NTRS shares. BidaskClub cut Northern Trust Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Bank of America Corporation cut their price target on Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, July 20th. Deutsche Bank AG cut their price target on Northern Trust Corporation from $103.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, July 20th. Morgan Stanley cut their price target on Northern Trust Corporation from $86.00 to $83.00 and set an “underweight” rating on the stock in a report on Thursday, July 20th. Finally, Zacks Investment Research cut Northern Trust Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $97.07.
Northern Trust Corporation (NASDAQ:NTRS) traded up $0.35 during trading on Friday, hitting $92.51. The company’s stock had a trading volume of 805,465 shares, compared to its average volume of 1,160,350. The company has a market cap of $21,040.00, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. Northern Trust Corporation has a 52-week low of $78.06 and a 52-week high of $99.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.71 and a quick ratio of 0.71.
Northern Trust Corporation declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 18th that permits the company to repurchase 9,500,000 outstanding shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, November 30th. Northern Trust Corporation’s dividend payout ratio is currently 37.09%.
In other Northern Trust Corporation news, EVP Aileen B. Blake sold 7,762 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $88.45, for a total transaction of $686,548.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman William L. Morrison sold 11,058 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $94.34, for a total value of $1,043,211.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 345,844 shares of company stock worth $32,418,879. 1.27% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Tdam USA Inc. lifted its stake in Northern Trust Corporation by 0.4% during the 2nd quarter. Tdam USA Inc. now owns 2,629 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 10 shares in the last quarter. Creative Planning lifted its stake in Northern Trust Corporation by 0.8% during the 2nd quarter. Creative Planning now owns 2,374 shares of the asset manager’s stock valued at $231,000 after acquiring an additional 20 shares in the last quarter. Bank of The West increased its position in shares of Northern Trust Corporation by 0.7% during the 2nd quarter. Bank of The West now owns 3,506 shares of the asset manager’s stock valued at $341,000 after purchasing an additional 26 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Northern Trust Corporation by 0.5% during the 2nd quarter. Wetherby Asset Management Inc. now owns 5,867 shares of the asset manager’s stock valued at $570,000 after purchasing an additional 27 shares during the last quarter. Finally, Veritable L.P. increased its position in shares of Northern Trust Corporation by 0.5% during the 2nd quarter. Veritable L.P. now owns 7,941 shares of the asset manager’s stock valued at $772,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 82.23% of the company’s stock.
Northern Trust Corporation Company Profile
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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