Northern Trust Corp.’s Neutral Rating Reaffirmed at Zacks (NTRS)
Northern Trust Corp. (NASDAQ:NTRS)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Thursday, AnalystRatings.NET reports. They currently have a $58.00 price objective on the stock. Zacks‘ price target would indicate a potential upside of 2.64% from the company’s current price.
Zacks‘ analyst wrote, “Northern Trust’s third-quarter 2013 earnings of $0.84 per share outpaced the Zacks Consensus Estimate by $0.06. Moreover, this was favorable compared with the prior-year quarter earnings of $0.73. Quarterly results benefited from top-line growth. Further, strong capital ratios and anticipated enhanced asset management and servicing fees based on a significant equity markets improvement and higher volumes is expected support earnings in the coming quarters. However, increase in non-interest expenses reflected undisciplined expense management. After reviewing the results, we are maintaining our Neutral recommendation on the shares. “
A number of other firms have also recently commented on NTRS. Analysts at Jefferies Group cut their price target on shares of Northern Trust Corp. from $61.00 to $60.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Rafferty Capital Markets upgraded shares of Northern Trust Corp. from a “hold” rating to a “buy” rating in a research note to investors on Thursday. They now have a $64.00 price target on the stock, up previously from $63.50. Finally, analysts at Credit Suisse raised their price target on shares of Northern Trust Corp. from $47.00 to $50.00 in a research note to investors on Wednesday. They now have an “underperform” rating on the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Northern Trust Corp. presently has a consensus rating of “Hold” and an average price target of $57.29.
Northern Trust Corp. (NASDAQ:NTRS) traded up 2.67% during mid-day trading on Thursday, hitting $56.51. The stock had a trading volume of 1,788,034 shares. Northern Trust Corp. has a one year low of $45.98 and a one year high of $62.02. The stock has a 50-day moving average of $54.8 and a 200-day moving average of $56.41. The company has a market cap of $13.570 billion and a price-to-earnings ratio of 19.18.
Northern Trust Corp. (NASDAQ:NTRS) last released its earnings data on Wednesday, October 16th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts expect that Northern Trust Corp. will post $3.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, December 4th.
Northern Trust Corporation (NASDAQ:NTRS) is a financial holding company that is a provider of asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals worldwide.
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