Brokerages forecast that Northern Trust Co. (NASDAQ:NTRS) will post sales of $1.56 billion for the current quarter, Zacks reports. Three analysts have provided estimates for Northern Trust’s earnings. The highest sales estimate is $1.58 billion and the lowest is $1.54 billion. Northern Trust posted sales of $1.51 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The firm is scheduled to issue its next earnings report on Wednesday, July 28th.
On average, analysts expect that Northern Trust will report full-year sales of $6.31 billion for the current financial year, with estimates ranging from $6.20 billion to $6.38 billion. For the next fiscal year, analysts anticipate that the company will post sales of $6.49 billion, with estimates ranging from $6.29 billion to $6.65 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Northern Trust.
Northern Trust (NASDAQ:NTRS) last released its earnings results on Monday, April 19th. The asset manager reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.21. Northern Trust had a net margin of 20.72% and a return on equity of 13.07%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $100.00 to $120.00 in a report on Friday, January 22nd. Barclays upped their price objective on Northern Trust from $105.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 7th. Morgan Stanley cut their price objective on shares of Northern Trust from $131.00 to $126.00 and set an “equal weight” rating for the company in a report on Tuesday, April 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Northern Trust from $110.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 15th. Finally, Royal Bank of Canada upped their price target on Northern Trust from $108.00 to $117.00 and gave the company an “outperform” rating in a research report on Tuesday, April 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Northern Trust currently has a consensus rating of “Hold” and an average price target of $103.56.
NTRS stock opened at $120.17 on Monday. The company’s 50-day moving average is $110.27 and its 200-day moving average is $98.06. The stock has a market capitalization of $25.01 billion, a PE ratio of 19.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.64 and a quick ratio of 0.64. Northern Trust has a 1 year low of $70.35 and a 1 year high of $121.67.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 11th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, June 10th. Northern Trust’s dividend payout ratio is presently 42.23%.
In related news, insider Steven L. Fradkin sold 36,064 shares of the business’s stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $118.67, for a total transaction of $4,279,714.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael O’grady sold 42,638 shares of the stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $117.52, for a total value of $5,010,817.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,694 shares of company stock worth $14,583,050. 0.72% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Carnegie Capital Asset Management LLC lifted its position in Northern Trust by 3.4% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 2,961 shares of the asset manager’s stock worth $311,000 after acquiring an additional 96 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Northern Trust by 34.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 388 shares of the asset manager’s stock worth $41,000 after purchasing an additional 99 shares during the last quarter. Wintrust Investments LLC grew its position in shares of Northern Trust by 3.8% in the first quarter. Wintrust Investments LLC now owns 2,876 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 105 shares during the last quarter. Pratt Collard Advisory Partners LLC grew its holdings in Northern Trust by 0.6% during the 1st quarter. Pratt Collard Advisory Partners LLC now owns 17,240 shares of the asset manager’s stock valued at $1,812,000 after buying an additional 110 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Northern Trust by 9.9% in the first quarter. Signaturefd LLC now owns 1,250 shares of the asset manager’s stock valued at $131,000 after buying an additional 113 shares during the last quarter. Institutional investors own 78.82% of the company’s stock.
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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