Brokerages Anticipate Northern Trust Co. (NTRS) Will Announce Quarterly Sales of $1.43 Billion

Analysts predict that Northern Trust Co. (NASDAQ:NTRS) will announce $1.43 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Northern Trust’s earnings. The highest sales estimate is $1.44 billion and the lowest is $1.42 billion. Northern Trust posted sales of $1.28 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.7%. The firm is scheduled to announce its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Northern Trust will report full year sales of $1.43 billion for the current fiscal year, with estimates ranging from $5.84 billion to $5.95 billion. For the next financial year, analysts expect that the firm will report sales of $6.20 billion per share, with estimates ranging from $6.07 billion to $6.29 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Northern Trust.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.05. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share.

Several research firms have recently issued reports on NTRS. Sandler O’Neill reiterated a “hold” rating and issued a $105.00 price objective on shares of Northern Trust in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Tuesday, December 19th. Vining Sparks reiterated a “buy” rating and issued a $118.00 price objective on shares of Northern Trust in a report on Wednesday, January 24th. Morgan Stanley increased their price objective on shares of Northern Trust from $91.00 to $104.00 and gave the company an “underweight” rating in a report on Thursday, January 25th. Finally, Bank of America increased their price objective on shares of Northern Trust from $112.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Northern Trust has a consensus rating of “Hold” and an average price target of $104.81.

Northern Trust (NASDAQ:NTRS) opened at $101.36 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.35. The stock has a market cap of $23,795.07, a P/E ratio of 20.60, a PEG ratio of 1.39 and a beta of 0.99. Northern Trust has a 1-year low of $83.17 and a 1-year high of $108.91.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, March 8th. Northern Trust’s payout ratio is 34.15%.

In related news, Vice Chairman William L. Morrison sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $96.48, for a total value of $2,894,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick H. Waddell sold 44,658 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $97.95, for a total transaction of $4,374,251.10. The disclosure for this sale can be found here. Insiders have sold 186,673 shares of company stock valued at $18,723,553 over the last 90 days. 1.27% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. First National Bank of Omaha lifted its position in shares of Northern Trust by 2.1% in the 4th quarter. First National Bank of Omaha now owns 120,108 shares of the asset manager’s stock valued at $11,998,000 after acquiring an additional 2,507 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Northern Trust by 5.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,441 shares of the asset manager’s stock valued at $1,742,000 after acquiring an additional 953 shares in the last quarter. Maltese Capital Management LLC lifted its position in shares of Northern Trust by 88.9% in the 4th quarter. Maltese Capital Management LLC now owns 85,000 shares of the asset manager’s stock valued at $8,491,000 after acquiring an additional 40,000 shares in the last quarter. Calton & Associates Inc. purchased a new stake in shares of Northern Trust in the 4th quarter valued at approximately $361,000. Finally, Raymond James Trust N.A. lifted its position in shares of Northern Trust by 15.9% in the 4th quarter. Raymond James Trust N.A. now owns 3,629 shares of the asset manager’s stock valued at $362,000 after acquiring an additional 498 shares in the last quarter. Institutional investors and hedge funds own 81.31% of the company’s stock.

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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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