Brokerages Anticipate Northern Trust Corporation (NTRS) Will Post Earnings of $1.15 Per Share
Brokerages predict that Northern Trust Corporation (NASDAQ:NTRS) will report earnings per share of $1.15 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Northern Trust Corporation’s earnings. The highest EPS estimate is $1.20 and the lowest is $1.09. Northern Trust Corporation reported earnings per share of $1.08 in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The firm is expected to announce its next quarterly earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that Northern Trust Corporation will report full-year earnings of $4.74 per share for the current financial year, with EPS estimates ranging from $4.65 to $4.95. For the next year, analysts forecast that the business will report earnings of $5.30 per share, with EPS estimates ranging from $4.96 to $5.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Northern Trust Corporation.
Northern Trust Corporation (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by $0.05. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year.
A number of equities research analysts have weighed in on the company. Buckingham Research reaffirmed a “neutral” rating and issued a $103.00 target price (up previously from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. BidaskClub raised Northern Trust Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 5th. Zacks Investment Research raised Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Wednesday, July 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $86.00 target price (up previously from $80.00) on shares of Northern Trust Corporation in a report on Friday, July 7th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $97.00 target price on shares of Northern Trust Corporation in a report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $94.50.
Shares of Northern Trust Corporation (NASDAQ NTRS) traded up 0.94% on Tuesday, reaching $89.12. 507,837 shares of the company traded hands. Northern Trust Corporation has a 52-week low of $66.39 and a 52-week high of $99.30. The company has a market capitalization of $20.36 billion, a PE ratio of 20.23 and a beta of 0.92. The firm has a 50-day moving average of $93.88 and a 200-day moving average of $89.09.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be given a dividend of $0.42 per share. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.90%. The ex-dividend date is Wednesday, August 30th. Northern Trust Corporation’s dividend payout ratio (DPR) is currently 34.55%.
Northern Trust Corporation declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, Vice Chairman William L. Morrison sold 25,000 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $87.28, for a total transaction of $2,182,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Susan Gillian Pembleton sold 9,793 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $88.29, for a total value of $864,623.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,974 shares of company stock valued at $17,103,543. 1.27% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NTRS. Pennsylvania Trust Co raised its position in shares of Northern Trust Corporation by 4.5% in the second quarter. Pennsylvania Trust Co now owns 45,615 shares of the asset manager’s stock valued at $4,434,000 after buying an additional 1,945 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Northern Trust Corporation by 1.7% in the first quarter. Cleararc Capital Inc. now owns 5,247 shares of the asset manager’s stock valued at $454,000 after buying an additional 89 shares in the last quarter. Bank of Montreal Can raised its position in shares of Northern Trust Corporation by 49.1% in the first quarter. Bank of Montreal Can now owns 1,043,696 shares of the asset manager’s stock valued at $90,365,000 after buying an additional 343,687 shares in the last quarter. BARING ASSET MANAGEMENT Ltd bought a new position in shares of Northern Trust Corporation during the first quarter valued at about $1,638,000. Finally, Chesley Taft & Associates LLC raised its position in shares of Northern Trust Corporation by 0.9% in the first quarter. Chesley Taft & Associates LLC now owns 72,234 shares of the asset manager’s stock valued at $6,254,000 after buying an additional 627 shares in the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.
About Northern Trust Corporation
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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