Zacks: Analysts Anticipate Northern Trust Co. (NASDAQ:NTRS) Will Post Quarterly Sales of $1.69 Billion

Analysts expect Northern Trust Co. (NASDAQ:NTRSGet Rating) to report $1.69 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Northern Trust’s earnings, with the lowest sales estimate coming in at $1.67 billion and the highest estimate coming in at $1.70 billion. Northern Trust posted sales of $1.58 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 7%. The firm is expected to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Northern Trust will report full year sales of $7.06 billion for the current fiscal year, with estimates ranging from $6.83 billion to $7.23 billion. For the next year, analysts expect that the business will post sales of $7.67 billion, with estimates ranging from $7.35 billion to $7.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Northern Trust.

Northern Trust (NASDAQ:NTRSGet Rating) last released its quarterly earnings data on Thursday, January 20th. The asset manager reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.09. Northern Trust had a return on equity of 14.16% and a net margin of 23.82%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $1.49 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. Seaport Res Ptn raised Northern Trust from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 5th. Keefe, Bruyette & Woods upgraded Northern Trust from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $152.00 in a research note on Monday, January 10th. StockNews.com began coverage on Northern Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. The Goldman Sachs Group raised Northern Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $128.00 to $141.00 in a report on Wednesday, March 30th. Finally, Barclays raised their price target on Northern Trust from $131.00 to $133.00 in a research note on Monday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $130.00.

In other Northern Trust news, CFO Jason J. Tyler sold 1,936 shares of the stock in a transaction that occurred on Monday, January 31st. The shares were sold at an average price of $115.60, for a total transaction of $223,801.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lauren E. Allnutt sold 393 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $105.61, for a total transaction of $41,504.73. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in Northern Trust by 1.5% in the fourth quarter. BlackRock Inc. now owns 15,419,837 shares of the asset manager’s stock worth $1,844,366,000 after purchasing an additional 233,407 shares during the period. State Street Corp grew its holdings in Northern Trust by 3.0% during the 4th quarter. State Street Corp now owns 9,756,050 shares of the asset manager’s stock valued at $1,173,602,000 after buying an additional 284,401 shares in the last quarter. American Century Companies Inc. grew its holdings in Northern Trust by 0.3% during the 4th quarter. American Century Companies Inc. now owns 4,741,871 shares of the asset manager’s stock valued at $567,175,000 after buying an additional 13,106 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Northern Trust by 1.3% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,699,978 shares of the asset manager’s stock worth $506,704,000 after purchasing an additional 58,974 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Northern Trust by 10.5% in the 4th quarter. Geode Capital Management LLC now owns 4,190,579 shares of the asset manager’s stock worth $500,059,000 after purchasing an additional 397,234 shares during the period. 80.02% of the stock is owned by institutional investors.

NASDAQ NTRS opened at $110.89 on Monday. The stock has a market cap of $23.06 billion, a PE ratio of 15.55 and a beta of 1.12. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.33. Northern Trust has a twelve month low of $102.39 and a twelve month high of $135.15. The stock has a fifty day simple moving average of $115.21 and a 200-day simple moving average of $118.87.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 11th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, March 10th. Northern Trust’s dividend payout ratio is 39.27%.

Northern Trust Company Profile (Get Rating)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.

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

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