Zacks: Brokerages Expect Northern Trust Co. (NASDAQ:NTRS) Will Announce Quarterly Sales of $1.49 Billion
Analysts expect that Northern Trust Co. (NASDAQ:NTRS) will announce $1.49 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Northern Trust’s earnings, with estimates ranging from $1.48 billion to $1.51 billion. Northern Trust posted sales of $1.55 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, January 21st.
On average, analysts expect that Northern Trust will report full-year sales of $6.09 billion for the current financial year, with estimates ranging from $6.06 billion to $6.13 billion. For the next financial year, analysts anticipate that the company will post sales of $6.08 billion, with estimates ranging from $6.03 billion to $6.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Northern Trust.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 21st. The asset manager reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Northern Trust had a net margin of 20.72% and a return on equity of 13.07%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.69 EPS.
In other news, EVP Clair Joyce St sold 29,154 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $90.05, for a total value of $2,625,317.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven L. Fradkin sold 7,117 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $82.88, for a total transaction of $589,856.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,560 shares of company stock worth $3,430,936. Insiders own 0.72% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc RI lifted its stake in shares of Northern Trust by 80.6% in the second quarter. Citizens Financial Group Inc RI now owns 363 shares of the asset manager’s stock worth $29,000 after buying an additional 162 shares in the last quarter. Hall Laurie J Trustee purchased a new position in shares of Northern Trust during the third quarter valued at approximately $35,000. IFP Advisors Inc raised its holdings in shares of Northern Trust by 1,482.8% during the third quarter. IFP Advisors Inc now owns 459 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 430 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Northern Trust by 95.2% during the second quarter. Orion Portfolio Solutions LLC now owns 648 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 316 shares during the last quarter. Finally, Planned Solutions Inc. purchased a new position in shares of Northern Trust during the third quarter valued at approximately $57,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.
Shares of NTRS opened at $91.39 on Thursday. The firm’s 50-day moving average price is $84.42 and its 200-day moving average price is $81.14. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.23 and a beta of 1.06. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.48. Northern Trust has a 1-year low of $60.67 and a 1-year high of $110.48.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. Northern Trust’s dividend payout ratio is presently 42.23%.
About Northern Trust
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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