Equities research analysts expect that Northern Trust Co. (NASDAQ:NTRS) will post sales of $1.45 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Northern Trust’s earnings, with the highest sales estimate coming in at $1.46 billion and the lowest estimate coming in at $1.43 billion. Northern Trust posted sales of $1.28 billion during the same quarter last year, which would indicate a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that Northern Trust will report full-year sales of $1.45 billion for the current financial year, with estimates ranging from $5.88 billion to $5.99 billion. For the next financial year, analysts forecast that the business will post sales of $6.23 billion per share, with estimates ranging from $6.18 billion to $6.29 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Northern Trust.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year.
A number of analysts recently weighed in on NTRS shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $110.00 target price on shares of Northern Trust in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Tuesday, December 19th. Barclays upped their target price on shares of Northern Trust from $102.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada upped their target price on shares of Northern Trust to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Bank of America upped their target price on shares of Northern Trust from $112.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Northern Trust has a consensus rating of “Hold” and a consensus price target of $104.81.
Northern Trust (NASDAQ:NTRS) traded down $1.25 during mid-day trading on Friday, hitting $107.59. 1,409,092 shares of the company were exchanged, compared to its average volume of 1,260,154. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a 12-month low of $83.17 and a 12-month high of $109.89. The stock has a market capitalization 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.
The firm also recently declared 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 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Thursday, March 8th. Northern Trust’s dividend payout ratio (DPR) is 34.15%.
In related news, EVP Clair Joyce St sold 18,489 shares of the company’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 value of $1,802,862.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman William L. Morrison sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $105.08, for a total value of $2,101,600.00. The disclosure for this sale can be found here. Insiders sold 225,553 shares of company stock valued at $22,734,528 over the last ninety days. 1.27% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its holdings in Northern Trust by 11.0% in the third quarter. Toronto Dominion Bank now owns 81,627 shares of the asset manager’s stock valued at $7,502,000 after purchasing an additional 8,120 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Trust by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 973,397 shares of the asset manager’s stock valued at $89,484,000 after acquiring an additional 12,322 shares during the period. Aurora Investment Counsel acquired a new stake in shares of Northern Trust in the fourth quarter valued at approximately $2,161,000. SG Americas Securities LLC boosted its holdings in shares of Northern Trust by 127.7% in the fourth quarter. SG Americas Securities LLC now owns 50,447 shares of the asset manager’s stock valued at $5,039,000 after acquiring an additional 28,291 shares during the period. Finally, Lockheed Martin Investment Management Co. acquired a new stake in shares of Northern Trust in the third quarter valued at approximately $2,648,000. 81.05% of the stock is owned by hedge funds and other institutional investors.
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Northern Trust 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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