Northern Trust Corporation (NTRS) Scheduled to Post Earnings on Wednesday
Northern Trust Corporation (NASDAQ:NTRS) is set to post its quarterly earnings results before the market opens on Wednesday, October 18th. Analysts expect Northern Trust Corporation to post earnings of $1.21 per share for the quarter.
Northern Trust Corporation (NASDAQ:NTRS) last released its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.05). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, analysts expect Northern Trust Corporation to post $4.69 EPS for the current fiscal year and $5.29 EPS for the next fiscal year.
Shares of Northern Trust Corporation (NTRS) opened at 93.27 on Wednesday. Northern Trust Corporation has a 52-week low of $68.78 and a 52-week high of $99.30. The company has a 50-day moving average price of $89.88 and a 200-day moving average price of $90.12. The company has a market cap of $21.31 billion, a P/E ratio of 21.17 and a beta of 0.93.
The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 1st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.80%. The ex-dividend date was Wednesday, August 30th. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio (DPR) is currently 38.18%.
Northern Trust Corporation declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the asset manager to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
NTRS has been the subject of several research analyst reports. BidaskClub upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Royal Bank Of Canada restated a “buy” rating and set a $97.00 price target on shares of Northern Trust Corporation in a report on Thursday, June 29th. Morgan Stanley restated an “underweight” rating and set a $86.00 price target (up previously from $80.00) on shares of Northern Trust Corporation in a report on Friday, July 7th. Buckingham Research restated a “neutral” rating and set a $103.00 price target (up previously from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. Finally, Zacks Investment Research upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $95.93.
In other news, EVP Aileen B. Blake sold 1,000 shares of Northern Trust Corporation stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $94.00, for a total value of $94,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Teresa Parker sold 11,399 shares of Northern Trust Corporation stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $87.65, for a total value of $999,122.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,094 shares of company stock valued at $15,115,309. Company insiders own 1.27% of the company’s stock.
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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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