Analysts forecast that Northern Trust Co. (NASDAQ:NTRS) will report $1.51 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Northern Trust’s earnings, with estimates ranging from $1.50 billion to $1.51 billion. Northern Trust also reported sales of $1.51 billion in the same quarter last year. The company is scheduled to announce its next earnings report before the market opens on Wednesday, July 24th.
On average, analysts expect that Northern Trust will report full year sales of $6.04 billion for the current fiscal year, with estimates ranging from $6.00 billion to $6.09 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $6.17 billion, with estimates ranging from $5.88 billion to $6.37 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Northern Trust.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Northern Trust had a net margin of 22.44% and a return on equity of 16.03%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share.
NASDAQ:NTRS remained flat at $$91.34 during midday trading on Friday. 712,938 shares of the company traded hands, compared to its average volume of 1,230,700. Northern Trust has a one year low of $75.96 and a one year high of $115.61. The company has a 50-day moving average price of $88.87. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.40 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.63.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.40 annualized dividend and a yield of 2.63%. Northern Trust’s payout ratio is 35.66%.
In other Northern Trust news, EVP Robert P. Browne sold 12,156 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $86.88, for a total transaction of $1,056,113.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Teresa Parker sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $97.50, for a total transaction of $292,500.00. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Northern Trust during the fourth quarter valued at about $366,000. Legal & General Group Plc raised its stake in shares of Northern Trust by 5.0% during the fourth quarter. Legal & General Group Plc now owns 986,183 shares of the asset manager’s stock valued at $82,436,000 after acquiring an additional 47,277 shares during the last quarter. NuWave Investment Management LLC bought a new position in shares of Northern Trust during the first quarter valued at about $72,000. Speece Thorson Capital Group Inc. raised its stake in shares of Northern Trust by 14.0% during the first quarter. Speece Thorson Capital Group Inc. now owns 147,120 shares of the asset manager’s stock valued at $13,301,000 after acquiring an additional 18,084 shares during the last quarter. Finally, Trust Department MB Financial Bank N A raised its stake in shares of Northern Trust by 14.7% during the first quarter. Trust Department MB Financial Bank N A now owns 1,625 shares of the asset manager’s stock valued at $147,000 after acquiring an additional 208 shares during the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.
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.
Featured Article: How is an ETF different from a mutual fund?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.