Wall Street analysts expect Northern Trust Co. (NASDAQ:NTRS) to report earnings of $1.69 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Northern Trust’s earnings. The highest EPS estimate is $1.76 and the lowest is $1.65. Northern Trust posted earnings of $1.35 per share in the same quarter last year, which would suggest a positive year over year growth rate of 25.2%. The firm is expected to announce its next quarterly earnings report on Wednesday, January 23rd.
On average, analysts expect that Northern Trust will report full-year earnings of $6.54 per share for the current year, with EPS estimates ranging from $6.47 to $6.60. For the next fiscal year, analysts forecast that the company will report earnings of $7.03 per share, with EPS estimates ranging from $6.73 to $7.50. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Northern Trust.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 17th. The asset manager reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.03). Northern Trust had a net margin of 23.28% and a return on equity of 15.75%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business posted $1.20 earnings per share. Northern Trust’s revenue was up 9.4% on a year-over-year basis.
Several equities analysts have weighed in on the company. Credit Suisse Group dropped their price objective on Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday. BidaskClub upgraded Northern Trust from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Deutsche Bank lowered their target price on Northern Trust from $108.00 to $107.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Zacks Investment Research cut Northern Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Wells Fargo & Co upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $126.00 target price on the stock in a research note on Wednesday, November 7th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $117.41.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Northern Trust by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 15,444,690 shares of the asset manager’s stock worth $1,577,366,000 after acquiring an additional 517,705 shares during the last quarter. BlackRock Inc. increased its holdings in Northern Trust by 2.8% in the 3rd quarter. BlackRock Inc. now owns 13,842,776 shares of the asset manager’s stock worth $1,413,762,000 after acquiring an additional 378,260 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Northern Trust by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,206,618 shares of the asset manager’s stock worth $736,014,000 after acquiring an additional 22,537 shares during the last quarter. Primecap Management Co. CA increased its holdings in Northern Trust by 3.7% in the 3rd quarter. Primecap Management Co. CA now owns 3,401,381 shares of the asset manager’s stock worth $347,383,000 after acquiring an additional 121,014 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Northern Trust by 8.7% in the 3rd quarter. Wells Fargo & Company MN now owns 2,596,225 shares of the asset manager’s stock worth $265,152,000 after acquiring an additional 207,745 shares during the last quarter. Institutional investors own 79.12% of the company’s stock.
Shares of NASDAQ:NTRS opened at $88.93 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.36. Northern Trust has a 1-year low of $87.98 and a 1-year high of $115.61. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.21 and a beta of 0.97.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Thursday, December 13th. Northern Trust’s payout ratio is 45.55%.
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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