Equities analysts predict that Northern Trust Co. (NASDAQ:NTRS) will announce $1.49 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Northern Trust’s earnings, with the lowest sales estimate coming in at $1.49 billion and the highest estimate coming in at $1.50 billion. Northern Trust reported sales of $1.32 billion in the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The firm is expected to issue its next quarterly earnings results on Wednesday, July 18th.
On average, analysts expect that Northern Trust will report full year sales of $6.00 billion for the current financial year, with estimates ranging from $5.96 billion to $6.08 billion. For the next year, analysts forecast that the firm will report sales of $6.29 billion per share, with estimates ranging from $6.18 billion to $6.42 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Northern Trust.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 17th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. Northern Trust had a net margin of 21.84% and a return on equity of 13.88%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis.
A number of brokerages have recently issued reports on NTRS. Credit Suisse Group increased their price target on shares of Northern Trust from $103.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, April 18th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Northern Trust in a research note on Wednesday, April 18th. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research note on Friday, April 20th. BidaskClub downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Finally, Deutsche Bank raised their target price on shares of Northern Trust from $109.00 to $111.00 and gave the company a “hold” rating in a research note on Friday, April 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Northern Trust has an average rating of “Hold” and an average target price of $110.75.
Shares of Northern Trust traded up $0.93, reaching $105.56, on Friday, Marketbeat reports. The stock had a trading volume of 28,209 shares, compared to its average volume of 1,103,308. Northern Trust has a 1 year low of $85.69 and a 1 year high of $110.81. The company has a market cap of $23.61 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.38 and a beta of 0.92. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.34.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, June 7th. Northern Trust’s payout ratio is currently 34.78%.
In other Northern Trust news, COO Jana R. Schreuder sold 2,627 shares of the stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $108.08, for a total transaction of $283,926.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Aileen B. Blake sold 7,163 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $105.15, for a total transaction of $753,189.45. The disclosure for this sale can be found here. Insiders have sold 27,682 shares of company stock worth $2,924,955 over the last quarter. Company insiders own 1.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Northern Trust by 8.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 119,860 shares of the asset manager’s stock valued at $11,973,000 after acquiring an additional 9,675 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in Northern Trust by 203.7% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 343,424 shares of the asset manager’s stock valued at $34,303,000 after buying an additional 230,337 shares during the period. Great West Life Assurance Co. Can lifted its position in Northern Trust by 3.3% during the first quarter. Great West Life Assurance Co. Can now owns 390,064 shares of the asset manager’s stock valued at $40,263,000 after buying an additional 12,582 shares during the period. Ontario Teachers Pension Plan Board lifted its position in Northern Trust by 74.2% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 39,091 shares of the asset manager’s stock valued at $3,905,000 after buying an additional 16,653 shares during the period. Finally, Champlain Investment Partners LLC lifted its position in Northern Trust by 0.9% during the fourth quarter. Champlain Investment Partners LLC now owns 1,313,490 shares of the asset manager’s stock valued at $131,205,000 after buying an additional 12,195 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.
About Northern Trust
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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