Q2 2024 EPS Estimates for Northern Trust Co. (NASDAQ:NTRS) Decreased by Jefferies Financial Group

Northern Trust Co. (NASDAQ:NTRS – Get Rating) – Stock analysts at Jefferies Financial Group dropped their Q2 2024 earnings per share (EPS) estimates for Northern Trust in a note issued to investors on Sunday, January 22nd. Jefferies Financial Group analyst K. Usdin now forecasts that the asset manager will post earnings of $1.78 per share for the quarter, down from their prior forecast of $1.89. The consensus estimate for Northern Trust’s current full-year earnings is $7.01 per share. Jefferies Financial Group also issued estimates for Northern Trust’s Q3 2024 earnings at $1.71 EPS, Q4 2024 earnings at $1.76 EPS and FY2024 earnings at $6.85 EPS.

Northern Trust (NASDAQ:NTRS – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The asset manager reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.10). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.75 billion. Northern Trust had a net margin of 17.24% and a return on equity of 14.89%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.91 EPS.

A number of other research analysts also recently commented on the company. Royal Bank of Canada dropped their price target on Northern Trust from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Keefe, Bruyette & Woods downgraded Northern Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 19th. StockNews.com started coverage on Northern Trust in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Barclays boosted their target price on Northern Trust from $105.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 3rd. Finally, The Goldman Sachs Group downgraded Northern Trust from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $97.00 to $95.00 in a research note on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $100.68.

Northern Trust Stock Up 0.2 %

NTRS stock opened at $94.77 on Tuesday. The company has a market cap of $19.75 billion, a PE ratio of 15.43 and a beta of 1.06. The business has a 50-day simple moving average of $91.47 and a 200 day simple moving average of $92.21. Northern Trust has a 52 week low of $76.15 and a 52 week high of $127.89. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 0.46.

Institutional Trading of Northern Trust

Several institutional investors have recently added to or reduced their stakes in NTRS. Piershale Financial Group Inc. bought a new stake in Northern Trust in the fourth quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in Northern Trust by 145.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 319 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 189 shares during the last quarter. Trust Co. of Vermont bought a new stake in Northern Trust in 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. Finally, Clear Street Markets LLC boosted its holdings 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 acquiring an additional 350 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, March 9th. Northern Trust’s dividend payout ratio is currently 48.86%.

About Northern Trust

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Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.