Northern Trust Corp. (NTRS) Expected to Post Q3 2016 Earnings of $1.08 Per Share
Northern Trust Corp. (NASDAQ:NTRS) – Investment analysts at Jefferies Group upped their Q3 2016 earnings per share (EPS) estimates for shares of Northern Trust Corp. in a report issued on Monday. Jefferies Group analyst K. Usdin now expects that the brokerage will post earnings of $1.08 per share for the quarter, up from their prior estimate of $1.05. Jefferies Group currently has a “Hold” rating and a $77.00 target price on the stock. Jefferies Group also issued estimates for Northern Trust Corp.’s Q4 2016 earnings at $1.13 EPS, FY2016 earnings at $4.26 EPS, Q1 2017 earnings at $1.07 EPS, Q2 2017 earnings at $1.17 EPS, Q3 2017 earnings at $1.10 EPS, Q4 2017 earnings at $1.22 EPS, FY2017 earnings at $4.55 EPS and FY2018 earnings at $4.95 EPS.
Northern Trust Corp. (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.22 billion. Northern Trust Corp. had a return on equity of 11.38% and a net margin of 19.38%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS.
NTRS has been the subject of several other reports. Credit Suisse Group AG set a $68.00 price target on Northern Trust Corp. and gave the company a “hold” rating in a research note on Wednesday, July 20th. Deutsche Bank AG reiterated a “hold” rating on shares of Northern Trust Corp. in a research note on Sunday, July 10th. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Wednesday, October 5th. Barclays PLC restated a “hold” rating on shares of Northern Trust Corp. in a research report on Saturday, July 9th. Finally, Citigroup Inc. upgraded shares of Northern Trust Corp. from a “sell” rating to a “neutral” rating and set a $66.00 price objective for the company in a research report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $72.27.
Northern Trust Corp. (NASDAQ:NTRS) opened at 71.07 on Tuesday. The stock has a 50 day moving average price of $69.43 and a 200 day moving average price of $68.79. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 17.56 and a beta of 1.13. Northern Trust Corp. has a 52-week low of $54.38 and a 52-week high of $76.11.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 2nd were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.14%. This is an increase from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, August 31st. Northern Trust Corp.’s dividend payout ratio is presently 37.53%.
In related news, insider Clair Joyce St sold 48,110 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $67.02, for a total value of $3,224,332.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William L. Morrison sold 170,563 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $67.36, for a total value of $11,489,123.68. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of NTRS. Primecap Management Co. CA bought a new stake in Northern Trust Corp. during the first quarter worth $115,703,000. Rafferty Asset Management LLC boosted its stake in shares of Northern Trust Corp. by 11.0% in the first quarter. Rafferty Asset Management LLC now owns 31,060 shares of the company’s stock worth $2,024,000 after buying an additional 3,074 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Northern Trust Corp. by 30.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,964 shares of the company’s stock worth $1,757,000 after buying an additional 6,312 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Northern Trust Corp. by 377.4% in the first quarter. Canada Pension Plan Investment Board now owns 302,722 shares of the company’s stock worth $19,728,000 after buying an additional 239,310 shares during the period. Finally, Aviva PLC boosted its stake in shares of Northern Trust Corp. by 0.9% in the first quarter. Aviva PLC now owns 132,263 shares of the company’s stock worth $8,619,000 after buying an additional 1,134 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.
About Northern Trust Corp.
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 around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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