$1.51 Billion in Sales Expected for Northern Trust Co. (NTRS) This Quarter

Share on StockTwits

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.

NTRS has been the subject of several research analyst reports. Credit Suisse Group increased their target price on Northern Trust from $112.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Deutsche Bank cut their target price on Northern Trust from $116.00 to $115.00 and set a “hold” rating for the company in a research report on Thursday. Vining Sparks reiterated a “buy” rating and set a $130.00 target price on shares of Northern Trust in a research report on Monday, July 23rd. Citigroup increased their target price on Northern Trust from $108.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, July 20th. Finally, Keefe, Bruyette & Woods set a $118.00 target price on Northern Trust and gave the stock a “hold” rating in a research report on Wednesday, July 18th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $115.88.

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.

Further Reading: Google Finance

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

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

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

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

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.