Northern Trust Corp. (NTRS) Expected to Post Q3 2016 Earnings of $1.08 Per Share
Northern Trust Corp. (NASDAQ:NTRS) – Equities research analysts at Jefferies Group lifted their Q3 2016 EPS estimates for Northern Trust Corp. in a report released on Monday. Jefferies Group analyst K. Usdin now anticipates that the firm will earn $1.08 per share for the quarter, up from their prior estimate of $1.05. Jefferies Group has a “Hold” rating and a $77.00 price objective 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.
NTRS has been the topic of several other reports. Credit Suisse Group AG set a $68.00 price objective on Northern Trust Corp. and gave the company a “hold” rating in a research note on Wednesday, July 20th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Northern Trust Corp. in a research note on Sunday, July 10th. Zacks Investment Research raised Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Wednesday, October 5th. Barclays PLC reissued a “hold” rating on shares of Northern Trust Corp. in a research report on Saturday, July 9th. Finally, Citigroup Inc. raised Northern Trust Corp. from a “sell” rating to a “neutral” rating and set a $66.00 price target on the stock in a research report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $72.27.
Northern Trust Corp. (NASDAQ:NTRS) opened at 71.07 on Tuesday. Northern Trust Corp. has a 52 week low of $54.38 and a 52 week high of $76.11. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of 17.56 and a beta of 1.13. The firm has a 50-day moving average of $69.43 and a 200 day moving average of $68.79.
Northern Trust Corp. (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.22 billion. Northern Trust Corp. had a net margin of 19.38% and a return on equity of 11.38%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 2nd were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend 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 payout ratio is 37.53%.
In other news, President William L. Morrison sold 170,563 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $67.36, for a total value of $11,489,123.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Biff Bowman sold 2,960 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $70.00, for a total value of $207,200.00. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Several large investors have recently modified their holdings of NTRS. Financial Architects Inc increased its stake in shares of Northern Trust Corp. by 5,936.0% in the second quarter. Financial Architects Inc now owns 1,509 shares of the company’s stock worth $100,000 after buying an additional 1,484 shares during the period. Global X Management Co. LLC increased its position in shares of Northern Trust Corp. by 30.8% in the second quarter. Global X Management Co. LLC now owns 1,545 shares of the company’s stock worth $102,000 after buying an additional 364 shares during the last quarter. Creative Planning increased its position in shares of Northern Trust Corp. by 61.9% in the second quarter. Creative Planning now owns 1,755 shares of the company’s stock worth $116,000 after buying an additional 671 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Northern Trust Corp. during the second quarter worth approximately $119,000. Finally, Mizuho Asset Management Co. Ltd. increased its position in shares of Northern Trust Corp. by 96.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,766 shares of the company’s stock worth $183,000 after buying an additional 1,359 shares during the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.
Northern Trust Corp. 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 around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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