Brokerages Anticipate Northern Trust Co. (NASDAQ:NTRS) Will Announce Quarterly Sales of $1.69 Billion

Equities research analysts expect that Northern Trust Co. (NASDAQ:NTRS – Get Rating) will report $1.69 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Northern Trust’s earnings, with the highest sales estimate coming in at $1.70 billion and the lowest estimate coming in at $1.67 billion. Northern Trust posted sales of $1.58 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The business is expected to issue its next quarterly earnings results before the market opens on Monday, January 1st.

On average, 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 anticipate that the firm 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 sell-side research firms that that provide coverage for Northern Trust.

Northern Trust (NASDAQ:NTRS – Get Rating) last released its earnings results on Thursday, January 20th. The asset manager reported $1.91 earnings per share (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 company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm posted $1.49 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis.

A number of research firms have recently commented on NTRS. Deutsche Bank Aktiengesellschaft dropped their price objective on Northern Trust from $152.00 to $148.00 and set a “buy” rating for the company in a report on Friday, February 18th. StockNews.com assumed coverage on Northern Trust in a research note on Thursday, March 31st. They set a “hold” rating for the company. Barclays increased their price target on shares of Northern Trust from $131.00 to $133.00 in a research report on Monday, January 3rd. Morgan Stanley reduced their price target on shares of Northern Trust from $135.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. Finally, Seaport Res Ptn raised shares of Northern Trust from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 5th. One equities 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.00.

In other Northern Trust news, EVP Lauren E. Allnutt sold 393 shares of the business’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $105.61, for a total value of $41,504.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jason J. Tyler sold 1,936 shares of the business’s stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $115.60, for a total transaction of $223,801.60. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in Northern Trust in the fourth quarter valued at approximately $160,474,000. Invesco Ltd. increased its position in shares of Northern Trust by 26.9% during the third quarter. Invesco Ltd. now owns 2,464,135 shares of the asset manager’s stock worth $265,659,000 after acquiring an additional 523,077 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Northern Trust by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 4,190,579 shares of the asset manager’s stock worth $500,059,000 after acquiring an additional 397,234 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Northern Trust by 14.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,010,268 shares of the asset manager’s stock worth $360,059,000 after acquiring an additional 379,175 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its position in shares of Northern Trust by 180.1% during the third quarter. Balyasny Asset Management LLC now owns 568,161 shares of the asset manager’s stock worth $61,253,000 after acquiring an additional 365,283 shares in the last quarter. 80.02% of the stock is owned by institutional investors and hedge funds.

NTRS stock opened at $110.89 on Monday. Northern Trust has a 1 year low of $102.39 and a 1 year high of $135.15. The firm has a market cap of $23.06 billion, a P/E ratio of 15.55 and a beta of 1.12. The stock’s 50 day moving average price is $115.21 and its 200 day moving average price is $118.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.69 and a current ratio of 0.69.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 11th were issued a $0.70 dividend. The ex-dividend date was Thursday, March 10th. This represents a $2.80 annualized dividend and a yield of 2.53%. Northern Trust’s dividend payout ratio (DPR) is presently 39.27%.

Northern Trust Company Profile 

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.