Northern Trust Co. (NASDAQ:NTRS) to Post FY2022 Earnings of $7.13 Per Share, Jefferies Financial Group Forecasts

Northern Trust Co. (NASDAQ:NTRSGet Rating) – Stock analysts at Jefferies Financial Group decreased their FY2022 earnings per share (EPS) estimates for Northern Trust in a research note issued on Monday, January 9th. Jefferies Financial Group analyst K. Usdin now expects that the asset manager will earn $7.13 per share for the year, down from their prior forecast of $7.30. The consensus estimate for Northern Trust’s current full-year earnings is $7.27 per share. Jefferies Financial Group also issued estimates for Northern Trust’s Q1 2023 earnings at $1.70 EPS, Q2 2023 earnings at $1.84 EPS, Q3 2023 earnings at $1.91 EPS, Q4 2023 earnings at $1.94 EPS and FY2023 earnings at $7.40 EPS.

Northern Trust (NASDAQ:NTRSGet Rating) last issued its earnings results on Wednesday, October 19th. The asset manager reported $1.80 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.02). Northern Trust had a net margin of 21.84% and a return on equity of 15.12%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm posted $1.80 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis.

A number of other equities research analysts have also commented on NTRS. Citigroup decreased their price target on Northern Trust from $92.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, October 21st. The Goldman Sachs Group lowered Northern Trust from a “buy” rating to a “neutral” rating and lowered their target price for the company from $97.00 to $95.00 in a research note on Wednesday, January 4th. Royal Bank of Canada reduced their price target on shares of Northern Trust from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Northern Trust from $92.00 to $95.00 in a research note on Wednesday. Finally, started coverage on shares of Northern Trust in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.59.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $97.33 on Thursday. The stock has a market capitalization of $20.29 billion, a price-to-earnings ratio of 13.26 and a beta of 1.06. The firm’s 50-day moving average price is $90.24 and its two-hundred day moving average price is $92.36. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. Northern Trust has a 1-year low of $76.15 and a 1-year high of $135.15.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV grew its position in shares of Northern Trust by 145.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 319 shares of the asset manager’s stock worth $28,000 after buying an additional 189 shares during the period. Trust Co. of Vermont acquired a new position in Northern Trust during the second quarter valued at approximately $33,000. LS Investment Advisors LLC bought a new stake in Northern Trust in the second quarter valued at approximately $38,000. Clear Street Markets LLC increased its stake in Northern Trust by 411.8% in the second quarter. Clear Street Markets LLC now owns 435 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 350 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Northern Trust by 64.8% in the first quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock worth $58,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 81.44% of the company’s stock.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Friday, December 9th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Thursday, December 8th. Northern Trust’s dividend payout ratio is presently 40.87%.

About Northern Trust

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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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Earnings History and Estimates for Northern Trust (NASDAQ:NTRS)

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