Northern Trust Corporation (NTRS) Expected to Post Earnings of $1.29 Per Share

Analysts forecast that Northern Trust Corporation (NASDAQ:NTRS) will post $1.29 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Northern Trust Corporation’s earnings, with the highest EPS estimate coming in at $1.36 and the lowest estimate coming in at $1.24. Northern Trust Corporation reported earnings of $1.11 per share during the same quarter last year, which indicates a positive year over year growth rate of 16.2%. The business is expected to announce its next earnings results on Wednesday, January 17th.

According to Zacks, analysts expect that Northern Trust Corporation will report full year earnings of $4.67 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $4.71. For the next financial year, analysts expect that the company will report earnings of $5.31 per share, with EPS estimates ranging from $5.05 to $5.45. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Northern Trust Corporation.

Northern Trust Corporation (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. Northern Trust Corporation had a return on equity of 12.33% and a net margin of 20.27%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm posted $1.11 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis.

Several equities analysts have commented on the company. Bank of America Corporation set a $102.00 price objective on Northern Trust Corporation and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their price objective on Northern Trust Corporation from $83.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday. Buckingham Research upped their price objective on Northern Trust Corporation from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday. UBS AG upped their price objective on Northern Trust Corporation from $100.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research downgraded Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust Corporation presently has an average rating of “Hold” and a consensus price target of $97.07.

In related news, insider Teresa Parker sold 8,000 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $92.00, for a total transaction of $736,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clair Joyce St sold 7,665 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $95.00, for a total value of $728,175.00. The disclosure for this sale can be found here. Insiders have sold a total of 340,324 shares of company stock worth $31,864,839 in the last three months. Corporate insiders own 1.27% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pennsylvania Trust Co lifted its stake in shares of Northern Trust Corporation by 4.5% during the 2nd quarter. Pennsylvania Trust Co now owns 45,615 shares of the asset manager’s stock worth $4,434,000 after purchasing an additional 1,945 shares during the last quarter. Boston Advisors LLC lifted its stake in shares of Northern Trust Corporation by 6,051.0% during the 2nd quarter. Boston Advisors LLC now owns 160,540 shares of the asset manager’s stock worth $15,606,000 after purchasing an additional 157,930 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Northern Trust Corporation by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 675,307 shares of the asset manager’s stock worth $65,647,000 after purchasing an additional 26,164 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Northern Trust Corporation by 0.7% during the 2nd quarter. Principal Financial Group Inc. now owns 337,497 shares of the asset manager’s stock worth $32,808,000 after purchasing an additional 2,298 shares during the last quarter. Finally, Eaton Vance Management lifted its stake in shares of Northern Trust Corporation by 0.3% during the 2nd quarter. Eaton Vance Management now owns 753,651 shares of the asset manager’s stock worth $73,262,000 after purchasing an additional 2,397 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Northern Trust Corporation (NTRS) Expected to Post Earnings of $1.29 Per Share” was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://sportsperspectives.com/2017/10/22/northern-trust-corporation-ntrs-expected-to-post-earnings-of-1-29-per-share.html.

Shares of Northern Trust Corporation (NASDAQ NTRS) traded up 0.31% during mid-day trading on Friday, reaching $95.27. The company had a trading volume of 1,579,078 shares. Northern Trust Corporation has a 1-year low of $69.92 and a 1-year high of $99.30. The stock has a market capitalization of $21.77 billion, a price-to-earnings ratio of 21.63 and a beta of 0.93. The firm has a 50-day moving average price of $90.90 and a 200-day moving average price of $90.48.

Northern Trust Corporation declared that its board has initiated a share repurchase program on Wednesday, June 28th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, November 30th. Northern Trust Corporation’s payout ratio is 37.17%.

Northern Trust Corporation 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.

Get a free copy of the Zacks research report on Northern Trust Corporation (NTRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Northern Trust Corporation (NASDAQ:NTRS)

Receive News & Ratings for Northern Trust Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply