Wall Street analysts expect that Northern Trust Co. (NASDAQ:NTRS) will report sales of $1.45 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Northern Trust’s earnings, with the lowest sales estimate coming in at $1.43 billion and the highest estimate coming in at $1.46 billion. Northern Trust reported sales of $1.28 billion during the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Northern Trust will report full-year sales of $1.45 billion for the current fiscal year, with estimates ranging from $5.88 billion to $5.99 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.23 billion per share, with estimates ranging from $6.18 billion to $6.29 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Northern Trust.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS.
Several research firms have commented on NTRS. BidaskClub lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley increased their price objective on shares of Northern Trust from $104.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, February 2nd. Royal Bank of Canada raised their price target on shares of Northern Trust to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Credit Suisse Group raised their price target on shares of Northern Trust from $99.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, Sandler O’Neill restated a “hold” rating on shares of Northern Trust in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $104.81.
Northern Trust (NTRS) traded down $1.25 during trading hours on Friday, reaching $107.59. 1,409,092 shares of the company’s stock traded hands, compared to its average volume of 1,260,154. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $24,233.99, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. Northern Trust has a 52-week low of $83.17 and a 52-week high of $109.89.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, March 8th. Northern Trust’s dividend payout ratio (DPR) is presently 34.15%.
In related news, Vice Chairman William L. Morrison sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $96.48, for a total value of $2,894,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Clair Joyce St sold 18,489 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $97.51, for a total transaction of $1,802,862.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,553 shares of company stock valued at $22,734,528. 1.27% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. Field & Main Bank bought a new position in Northern Trust in the 4th quarter worth approximately $100,000. Truewealth LLC bought a new position in Northern Trust in the 4th quarter worth approximately $110,000. Cerebellum GP LLC bought a new position in Northern Trust in the 4th quarter worth approximately $132,000. Mission Wealth Management LP bought a new position in Northern Trust in the 4th quarter worth approximately $200,000. Finally, Hollencrest Capital Management bought a new position in Northern Trust in the 4th quarter worth approximately $210,000. 81.05% of the stock is owned by institutional investors.
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About Northern Trust
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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