Equities research analysts expect Northern Trust Co. (NASDAQ:NTRS) to announce sales of $1.51 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Northern Trust’s earnings. The lowest sales estimate is $1.51 billion and the highest is $1.52 billion. Northern Trust reported sales of $1.35 billion in the same quarter last year, which would suggest a positive year over year growth rate of 11.9%. The company is expected to announce its next quarterly earnings report before the market opens on Wednesday, October 17th.
On average, analysts expect that Northern Trust will report full-year sales of $6.03 billion for the current fiscal year, with estimates ranging from $6.02 billion to $6.05 billion. For the next fiscal year, analysts expect that the business will report sales of $6.39 billion, with estimates ranging from $6.31 billion to $6.48 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Northern Trust.
Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 18th. The asset manager reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.05. Northern Trust had a return on equity of 15.02% and a net margin of 22.88%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business posted $1.12 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis.
Shares of NASDAQ:NTRS traded down $0.11 during trading on Friday, hitting $99.05. 1,688,552 shares of the company’s stock were exchanged, compared to its average volume of 1,144,030. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.34. Northern Trust has a 52-week low of $91.06 and a 52-week high of $115.61. The stock has a market capitalization of $22.80 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.19 and a beta of 0.94.
Northern Trust declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 17th that permits the company to buyback 25,000,000 shares. This buyback authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, September 13th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.42. This represents a $2.20 dividend on an annualized basis and a yield of 2.22%. Northern Trust’s dividend payout ratio is presently 45.55%.
In related news, insider Clair Joyce St sold 3,166 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $110.00, for a total transaction of $348,260.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Cherecwich sold 19,761 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $111.35, for a total value of $2,200,387.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,636 shares of company stock valued at $8,488,828. 1.04% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in NTRS. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Northern Trust by 8,671.4% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,228 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 1,214 shares during the last quarter. Delta Asset Management LLC TN bought a new stake in shares of Northern Trust in the 2nd quarter valued at approximately $145,000. Quantbot Technologies LP bought a new stake in shares of Northern Trust in the 1st quarter valued at approximately $167,000. Qube Research & Technologies Ltd lifted its stake in shares of Northern Trust by 64.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,813 shares of the asset manager’s stock valued at $187,000 after purchasing an additional 709 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in shares of Northern Trust in the 1st quarter valued at approximately $194,000. 77.99% of the stock is owned by institutional investors.
Northern Trust Company Profile
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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