$1.40 Billion in Sales Expected for Northern Trust Co. (NTRS) This Quarter

Equities research analysts expect Northern Trust Co. (NASDAQ:NTRS) to post $1.40 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Northern Trust’s earnings. The highest sales estimate is $1.41 billion and the lowest is $1.40 billion. Northern Trust reported sales of $1.24 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The company is expected to announce its next earnings results on Wednesday, January 17th.

On average, analysts expect that Northern Trust will report full-year sales of $1.40 billion for the current year, with estimates ranging from $5.35 billion to $5.39 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.77 billion per share, with estimates ranging from $5.74 billion to $5.79 billion. Zacks Investment Research’s sales averages are a mean 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, October 18th. The asset manager reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.08. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.11 EPS.

NTRS has been the topic of a number of research analyst reports. Bank of America set a $102.00 price target on Northern Trust and gave the company a “buy” rating in a report on Thursday, October 19th. Morgan Stanley raised their price objective on Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, October 19th. Buckingham Research raised their price objective on Northern Trust from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. UBS raised their price objective on Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Zacks Investment Research downgraded Northern Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Northern Trust currently has an average rating of “Hold” and an average price target of $97.07.

Northern Trust (NASDAQ NTRS) opened at $97.78 on Friday. Northern Trust has a one year low of $80.86 and a one year high of $99.30. The stock has a market capitalization of $22,240.00, a price-to-earnings ratio of 21.02, a P/E/G ratio of 2.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.72%. Northern Trust’s dividend payout ratio (DPR) is currently 37.09%.

In related news, Chairman Frederick H. Waddell sold 177,964 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $95.64, for a total value of $17,020,476.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jana R. Schreuder sold 5,581 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $90.00, for a total value of $502,290.00. The disclosure for this sale can be found here. Insiders sold a total of 391,543 shares of company stock worth $37,086,224 in the last 90 days. Company insiders own 1.27% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Burgundy Asset Management Ltd. boosted its position in Northern Trust by 0.6% during the third quarter. Burgundy Asset Management Ltd. now owns 2,386,800 shares of the asset manager’s stock valued at $219,419,000 after buying an additional 13,249 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Northern Trust during the third quarter worth about $251,000. GSA Capital Partners LLP purchased a new stake in shares of Northern Trust during the third quarter worth about $221,000. Gofen & Glossberg LLC IL boosted its holdings in shares of Northern Trust by 7.6% during the third quarter. Gofen & Glossberg LLC IL now owns 158,804 shares of the asset manager’s stock worth $14,599,000 after purchasing an additional 11,195 shares during the period. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Northern Trust during the third quarter worth about $555,000. 81.75% of the stock is currently owned by institutional investors and hedge funds.

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Northern Trust Company Profile

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

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